Providing capital to high schools across the Commonwealth to expand ‘Credit for Life’ and financial education fairs.
BOSTON, MA — The Baker-Polito Administration’s Division of Banks, in partnership with the State Treasurer’s Office, announced today the 2017-2018 recipients of Financial Education Innovation funding. This initiative began in 2015 to provide capital to high schools across the Commonwealth to expand ‘Credit for Life’ and financial education fairs. These awards are funded through the Division’s settlements over alleged unlawful lending practices.
“I have experienced firsthand the positive impact ‘Credit for Life’ fairs have on our high school students,” said Treasurer Deb Goldberg. “These funds will help students learn how to budget their money responsibly and make informed financial decisions as they prepare to enter college or begin their careers.”
Through an extensive application process that culminated this month, the Treasurer’s Office of Economic Empowerment awarded 30 high schools across the Commonwealth a total of $74,300 in funding to expand upon or establish these financial education programs.
“The funding of these fairs is particularly important to furthering students’ awareness of having an ability to manage money, credit, and savings throughout their lifetimes,” stated John Chapman, Undersecretary of the Office of Consumer Affairs and Business Regulation.
“An informed and educated consumer has the tools to make sound financial decisions”, said Terence McGinnis, Commissioner of Banks. “It is important that financial education begins at a young age as these students enter college or the workforce. I am pleased that we are able to support these high schools’ ‘Credit for Life’ fairs this year.”
This is the fourth installment of awards through the Financial Education Innovation Fund, which was established as an ongoing effort to strengthen financial literacy. This installment added the opportunity for more than one school to apply for joint funding for Credit for Life fairs.