BOSTON — State Treasurer Deborah B. Goldberg and the Division of Banks announced today the recipients of the next round of Financial Education Innovation Fund grants, an initiative that provides capital to expand Credit for Life fairs in high schools across the Commonwealth. These awards are funded by a grant from the Division of Banks through settlements over alleged unlawful lending practices.
“These financial literacy grants will further support students as they learn to make informed financial decisions regarding career development and pursuing higher education,” said Treasurer Deb Goldberg. “I have been able to attend these ‘Credit for Life’ fairs and they are truly an impactful learning tool for many of our state’s young adults.”
Through an extensive application process that culminated this month, the Treasurer’s Office awarded 24 high schools across the Commonwealth nearly $60,000 in grant money to expand upon or establish these programs.
”These ‘Credit for Life’ fairs are designed to be an innovative and effective way for students to learn about making real world decisions when it comes to saving, spending, and budgeting their money based on a range of career choices and lifestyle decisions,” said John Chapman, Undersecretary of the Office of Consumer Affairs and Business Regulation, whose office includes the Division of Banks.
“I am pleased that we are able to support 24 high schools’ Credit for Life fairs this spring,” said David Cotney, Commissioner of Banks. “Our hope is that more schools will consider organizing Credit for Life fairs and expand upon their existing event framework in the next school year.”
This is the second installment of these innovation grants, which were established as an ongoing effort to expand financial literacy, so schools will have the opportunity to apply during the next round of funding.