Giving Back: A Hudson Scholars Reflection

In some ways, we initially joined the Hudson Scholars program in 2021 for the wrong reasons. Although we thoroughly believed in the importance of creating and teaching a financial literacy course for the Scholars, we also saw the benefit of adding such an activity to our college applications. That changed when we started the program. By the time it ended, we built lifelong connections with the Scholars and had the most meaningful four weeks of our lives. The impact Hudson Scholars had on us was a newly found feeling of fulfillment, and, even after we both got into our colleges in December 2021, we yearned to find meaningful ways to further enhance the program.

As both our final senior project and part of Mr. Sykes’ Advanced Topics in Economics yearlong project, we decided to spend our time improving our Hudson Scholars financial literacy program. Two years ago, during our first summer, our class primarily revolved around our self-made real-life simulation, where the students got jobs, paid taxes, invested, and learned such key concepts as compound interest and dollar cost averaging.

We also created a mock currency, “Sykes Bucks,” that students had to manage and work for, pay taxes with, invest, and budget. The currency could be used on a prize table that included gift cards, toys, and candy, which further incentivized the Scholars. The students loved the simulation, but we believed that the class needed more structure, and so we created a full curriculum that included packets, worksheets, and PowerPoints to complement the interactive portion of the class. We also met with people within the finance industry to further guide us in the creation of the program.

Tangentially, we wondered what we should do with the funds we raised in the Hackley Finance Club, which we founded alongside our peers Luke Best, Catherine Lapey, Mac Wyman, and Jack Meyer. The Finance Club raised $3,000 to invest in equities and vowed to donate the fund by the time we went to college, although we had not identified the recipient of the donation. We grew the fund to nearly $9,000 in two and a half years. The club was desperate to get to

$10,000 by the end of senior year and, in the process, the portfolio plummeted. Still, we managed to accumulate 36.6% returns, leaving us with approximately $4,100 and a big decision to make. By the end of the year, we selected Hudson Scholars as the donation recipient. Choosing Hudson Scholars ended up being an easy decision. We wanted to do everything we could to support a program for which we had a profound amount of passion and appreciation.

We hope that the Finance Club’s donation has a meaningful impact on Hudson Scholars, and we are grateful for the opportunity to give back. As we look forward to maintaining a close relationship with Mr. Sykes, the Hudson Scholars program, and the Scholars, we also look optimistically toward applying our newfound business school knowledge to the improvement of the financial literacy program, ultimately helping the Scholars who changed our lives for the better.

“Charlie and Johnny were absolutely incredible mentors whose energy and fun personalities left an indelible mark on the Hudson Scholars program. It was incredible to watch the Scholars’ faces light up as Charlie and Johnny connected with them and laughed with them, all while teaching them important lessons in and out of the classroom. Charlie and Johnny were the catalysts behind what will eventually grow into a permanent feature of Hudson Scholars: financial literacy. Through the financial literacy club they ran and the curriculum they helped to develop, Charlie and Johnny planted the seed for financial literacy education moving forward. Their giving and caring spirit, and their desire to give back to Hudson Scholars, speaks volumes about these two incredible young men. I am so proud of the work they did with the Scholars, and I will never forget the two of them and the impact they made. Their gift to the program truly left me speechless.”