This has absolutely nothing to do with Political Correctness. I think people need to stop taking anything that they don't like and slapping the label, "Politically Correct" on it so everyone else knows that the hive mind is supposed to hate it.
Minor griping aside, I think its an admirable idea, but I think it will fail in execution. Your going to be giving a large amount of money to many, many girls that could be spent actually helping them through some program. Its not enough to inspire then to change there lifestyle, especially seeing how getting pregnant is an uncertain proposition anyways. Basically, a ton of girls are going to be having sex but be lucky enough to not get pregnant and get a few free bucks, no one is going to be in the heat of the moment and think, "But my dollar!", and you will have no money left for sex ed programs, or to help that girl who does get pregnant. Show me a study that says it works and okay, but I doubt it exists/