Money Smart Wisconsin Scholarship Contest

Funder: Wisconsin Department of Financial Institutions (DFI), in partnership with Edvest 529, Wisconsin's direct-sold 529 college savings plan, and the Wisconsin Coalition on Student Debt

Program Status: Active and ongoing (2025 winners announced, 2026 application cycle underway)

Geographic Scope: Wisconsin high school seniors

Award Amount: $1,000 contribution to a new or existing Edvest 529 account per recipient; approximately 15 scholarships awarded annually for a total of $15,000

Focus Areas:

• Financial literacy and planning for college education and career training
• Demonstrating how students plan to finance higher education
• Understanding the financial aid process
• Managing finances, schoolwork, and job responsibilities
• Strategic planning for college costs and funding sources

Eligibility Requirements

• Be a Wisconsin resident
• Be a graduating high school senior
• Plan to attend a Wisconsin college or university
• Student or parent/guardian must have a valid Social Security Number
• Demonstrate basic money management knowledge
• Essays must be original and NOT AI-generated

Key Information

• Award funds are contributed to Edvest 529 college savings accounts
• Nine of 15 (2025) scholarship recipients were first-generation college students
• Scoring based on: estimation of higher education costs, identification of funding sources, explanation of financial aid process, and formulation of financial management plans
• Winners' names may be shared with their high schools for recognition at award ceremonies
• All submitted essays become property of the Wisconsin Coalition on Student Debt and may be used to promote financial literacy

Sponsors

• Ascendium Education Group
• Wisconsin Coalition on Student Debt
• Wisconsin Department of Financial Institutions (DFI)
• Educators Credit Union
• Edvest 529
• SecureFutures
• Summit Credit Union
• UW Credit Union

Contact Information

• Email: MoneySmart@debtsmarts.org
• Attn: Cheryl Rapp
• Media Contact: DFICommunications@dfi.wisconsin.gov
• Website: debtsmarts.org/scholarships

Application Process

Application Deadline: March 6, 2026 (must be received before midnight)

Notification Timeline: Award recipients will be notified between April 6-21, 2026

Winners Announcement: Winners announced by June 15, 2026 (for Budgeting for Success Scholarship)

Required Materials

1. Complete the Money Smart Scholarship Application
2. Submit a concise essay written by the student:
   • Essay must be original and NOT AI-generated
   • Topic: How the student plans to finance their college education and career training (based on 2025 contest)
3. Signed application document signed by both student and parent/guardian
4. Essay and signed application must be combined into one PDF (or scanned attachment)

Submission Instructions

1. Email all materials to: MoneySmart@debtsmarts.org
2. Include student and parent/guardian signatures on application
3. Combine essay and application into single PDF file
4. Submit before midnight on March 6, 2026

Key Guidelines

• Essays should demonstrate thoughtful college planning
• Essays should reflect realistic plans for funding college education
• Students should show understanding of how to estimate higher education costs
• Students should identify specific funding sources
• Students should explain how financial aid process works
• Students should demonstrate plans for managing finances while in school

Questions

Direct all questions to: MoneySmart@debtsmarts.org (Attn: Cheryl Rapp)