News : Money Smart Kid essay contest offers students a chance to win $1,000

Students in sixth through eighth grade have the chance to enter the fifth annual Money Smart Kid Essay Contest and compete for $1,000 to help boost their college savings. The statewide essay contest is co-sponsored by the Iowa Bankers Association and Iowa Credit Union Foundation for Money Smart Week.

Students in grades six through eight can enter the contest by writing an essay of 300 words or less that addresses the following question: “What are the financial risks and benefits of mortgaging a home from the perspective of both the potential homeowner and the bank (or lender)?

Candidates must be a student in grades six to eight, should be able to “think on their feet” when responding to questions from business leaders and the media, and should be articulate and able to speak in front of large groups.

Teachers and parents are welcome to encourage students to develop original essays for the contest. Essays are due by March 21. Complete contest guidelines are available on the Money Smart Week Iowa website at www.moneysmartweek.org/iowa.

Finalists may be selected to read their essays at one or more Money Smart Week kick-off events, and the student with the top essay will be selected as Iowa’s Money Smart Kid for 2011. The winner may also be asked to speak at the 2011 Iowa Jump$tart Conference on July 21-22.

The winning student will receive a $1,000 College Savings Iowa account, funded jointly by the Iowa Bankers Association and the Iowa Credit Union Foundation. College Savings Iowa is the state’s 529 college savings plan which can be used at any federally-accredited institution of higher learning in the United States.

The Money Smart Kid will also serve as an ambassador during Money Smart Week, taking place April 2-9 in communities across the state. Throughout the week, more than 136 educational events will be hosted by nearly 140 community groups, financial institutions, government agencies, educational organizations and financial experts in an effort to help Iowans of all ages learn to better manage their personal finances. More information about Money Smart Week partners and a calendar of events is available at www.moneysmartweek.org/iowa.