Ala. (WBMA) —The City of Birmingham is extending its partnership with the IMC Financial Freedom Project with a $1 million investment aimed at helping students, families and educators strengthen their financial knowledge and build long-term economic stability
The four-year partnership began in 2022 and provides K-12 students with financial education while offering workshops, resources and confidential financial consulting to families, teachers and school staff. The program will be available at all Birmingham City Schools this school year.
“Financial freedom starts with knowledge, and we have a responsibility to make sure our young people have that knowledge before they enter adulthood,” Mayor Randall L. Woodfin said.
Since its launch, the program has reached 3,797 students across 20 schools and helped facilitate $1.25 million in student loan forgiveness through the Public Service Loan Forgiveness program.
According to the city, 73% of participating high school students and 96% of middle school students reported increased confidence in their financial decision-making.
The program recently added an investment club in partnership with Edward Jones, giving students opportunities to apply financial concepts and learn about investing.
The Financial Freedom Project also provides monthly workshops and no-cost, confidential one-on-one financial consulting for parents, caregivers, faculty and staff.
The partnership initially launched at six Birmingham City Schools during the 2022-2023 school year before expanding. The program also hosts Financial Empowerment Fairs connecting families with organizations offering financial guidance and support.
The continued $1 million investment comes through the city’s Department of Youth Services and is intended to support financial education and economic mobility among Birmingham youth and families.
