Experian & HomeFree-USA Award $40K Scholarship to Fisk University for Credit Education Solution
A team of four students from Fisk University recently emerged as the winners of the prestigious #IYKYK Pitch Competition (If You Know, You Know), an initiative sponsored by Experian and HomeFree-USA. Their innovative business idea, aimed at transforming financial literacy and credit education into a vital rite of passage for young adults, earned them the top prize. Nicknamed “Team FinLit,” the group consisted of Ansana Regmi, Destiny Marshall, Remilekun Ore, and Sovit Lekhak. Their winning proposal, titled “FinLit HQ,” impressed the judges and secured them a $40,000 scholarship to support their education and further development of their idea.
The core concept behind FinLit HQ is a personalized, gamified experience designed specifically for teenagers. The interactive platform helps young users build strong financial habits early, tackling challenges such as “money dysmorphia”—a growing phenomenon where individuals struggle with distorted perceptions of their financial health. As users transition into their early twenties, FinLit HQ introduces them to more advanced, app-based credit education through engaging gaming missions that simulate real-world financial scenarios. These include essential life skills such as purchasing college textbooks, renting an apartment, financing a vehicle, and even preparing for homeownership.
One of the most compelling aspects of FinLit HQ is its direct integration with Experian’s financial tools, including Experian SmartMoney, Experian Boost, and Experian Go. This integration means that users not only gain theoretical knowledge but also actively work on strengthening their real-life credit scores as they engage with the game. The ultimate goal is to empower young people to make informed financial decisions, giving them a head start toward financial independence and stability.
Bridging the Financial Literacy Gap Among Youth
Ansana Regmi, a junior computer science major at Fisk University and the captain of Team FinLit, emphasized the importance of equipping young people with financial knowledge before they enter adulthood.
“We realize there’s a knowledge gap within the younger generation about credit. You don’t give someone a car and ask them to drive on the road without any practice. You shouldn’t push young people into the financial world without any education. One small mistake can impact you for years, and that’s why FinLit HQ is designed for users as young as 13,” said Regmi.
Regmi’s statement highlights a fundamental problem: financial literacy is not commonly taught in schools, leaving many young adults unprepared to navigate the complexities of credit and personal finance. Without a foundational understanding of credit scores, interest rates, and responsible borrowing, young individuals are at risk of making costly financial mistakes that can have long-term consequences.
The #IYKYK Pitch Competition and Its Impact
The #IYKYK Pitch Competition was developed as part of Experian’s B.A.L.L. for Life initiative, which stands for “Building A Legacy of Literacy.” The competition challenged students to develop innovative solutions that make financial literacy and credit education an essential milestone for young people, especially those who are not yet part of the formal credit system. The issue of credit invisibility—where individuals lack a credit report or credit score—is a significant concern, particularly among younger demographics.
According to Experian, nearly 40% of consumers under the age of 25 fall into this category. Furthermore, credit invisibility disproportionately affects minority communities, with 28% of Black consumers and 26% of Hispanic consumers being credit invisible, compared to 16% of White and Asian consumers. These disparities highlight the urgent need for targeted financial education initiatives that ensure equitable access to credit-building resources.
The #IYKYK Pitch Competition was the culmination of the Experian Credit Academy, an educational initiative created for the Center for Financial Advancement® (CFA). Over 500 students from 16 Historically Black Colleges and Universities (HBCUs) participated in live sessions led by Experian’s credit education experts, as well as self-paced learning modules designed to enhance their understanding of financial literacy and credit management.
Finalists from Bowie State University and Talladega College also had the opportunity to present their innovative ideas at Experian’s North America headquarters. While Team FinLit from Fisk University took home the top prize, the runner-up teams were awarded $10,000 scholarships each, acknowledging their dedication and creativity in addressing financial literacy challenges.
Experian’s Commitment to Financial Education
The enthusiasm and innovative spirit displayed by the students deeply resonated with the judges and sponsors of the competition. Raudy Perez, Senior Director of External Diversity, Equity, and Inclusion Partnerships for Experian North America, expressed his excitement over the impact of the initiative.
“We are thrilled to see students fully embrace the pitch competition challenge. Their deep connection to bridging the gap in credit education knowledge and their passion for sharing what they’re learning with their communities are inspiring. At Experian, our goal is to make credit education not only informative but also fun, exciting, and culturally relevant. Seeing the enthusiasm and dedication from these students reaffirms our commitment to this mission with HomeFree-USA and the Center for Financial Advancement,” said Perez.
Perez’s statement underscores Experian’s broader commitment to making financial education accessible and engaging. By supporting initiatives like the #IYKYK Pitch Competition, Experian aims to empower students with the knowledge and resources needed to take control of their financial futures.
The Power of Student-Led Innovation
LuWanna Williams, University Director for the Center of Financial Advancement™, also emphasized the value of giving students the opportunity to develop and apply real-world financial solutions.
“Education is designed for students, yet their voices can sometimes be missing from the process. Experian’s #IYKYK Pitch Competition allows students to take what they’ve learned and apply it to real-life scenarios. Learning by doing is powerful, and in this experience, students deepen their understanding of credit and financial literacy by actively engaging with the material and sharing their knowledge with others,” said Williams.
Williams’ insight highlights an important shift in financial education—moving from traditional classroom-based learning to interactive, experience-driven models that resonate with today’s digital-native generation. By allowing students to lead the charge in designing educational tools, initiatives like the #IYKYK Pitch Competition ensure that financial literacy resources are both relevant and effective.
