Youth Can Innovation Program

The next generation of youth faces significant barriers to economic mobility and financial security. At Principal, we’ve committed to fostering social change by investing in projects that help young people ages 15-24 to earn more and save more.

Principal Foundation in partnership with the Center for Financial Services Innovation, the leading authority on consumer financial health, has launched the Youth Can Innovation Program. This is an initiative dedicated to furthering organizations that propose big ideas to help youth achieve economic opportunity and financial health.

This fall, 4 organizations presented their ideas in an Innovators Showcase event to an influential panel of business leaders, nonprofit leaders, and journalists. Two organizations—Edquity and MyPath—each were granted $150,000, while the other 2—A.M. Money and MoneyThink—received $25,000. Check out a video recap of the event.

Selected participants will also receive:

  • Strategic guidance, heightened visibility, and access to a robust network in the underserved financial services industry.
  • Advisory assistance and opportunities for regular consultation and collaboration with CFSI.

Join the conversation on social media—use #YouthCanInnovation and tag @Principal.

The innovators

A.M. Money's logo.

The majority of student loan defaults occur within the first 3 years, often due to unexpected early-career financial shocks. A.M. Money asks, what if borrowers’ loan payments rose and fell along with their income?

Learn more about A.M. Money
MoneyThink's logo.

Only 16% of low-to-moderate income youth obtain a bachelor’s degree within 6 years. 70% of college dropouts cite financial stress—typically for unexpected expenses of less than $1,500. MoneyThink’s web-based tool would pair with the organization’s existing coaching services to help students navigate the college selection and financial aid process.

Learn more about MoneyThink
Edquity's logo.

More than 3 million students drop out of college every year due to small, time-critical financial crises. Edquity’s solution would provide students with resources to help them weather financial emergencies.

Learn more about Edquity
MyPath's logo.

Too many young adults land their first job without having access to safe, quality financial tools and information—leaving them vulnerable to risky, dead-end financial paths. MyPath has in-person and online resources to put youth on the right track.

Learn more about MyPath

The expert panel

  • Gary Scholten, chief digital officer, Principal
  • Jennifer Tescher, president and chief executive officer Center for Financial Services Innovation
  • Mark Ernst, managing partner, Bellevue Capital and CFSI board vice chair
  • Lynnette Khalfani-Cox, CEO, The Money Coach
  • Richard Russey, vice president and publisher of Inc. Media
  • Mary Sellers, U.S. president of United Way Worldwide
  • Premal Shah, president and founder, Kiva