EL PASO, Texas – GECU is launching the third round of its popular Savings Challenge, but instead of focusing on families, this year’s round will be geared toward teaching college students the basics of personal finances.
Last year, two families won $10,000 and four families $2,500 each, as part of Greater El Paso Credit Union’s Savings Challenge.
This year, six college students will compete for a grand prize of $10,000, while the others will get $2,500 each for participating. Prize money will go toward paying college expenses and existing debt. No more than 10% will be paid in cash that the students can spend.
The contest will focus on teaching traditional college students (ages 18 to 24) sound financial habits, but there are no age restrictions. Anyone attending a university, college or trade school in El Paso or Santa Teresa is eligible. Students who live at home may participate, but they must show that they are responsible for paying all their college expenses.
Applicants must submit a video audition not more than five minutes long. Two public auditions will be held.
