Calling it a major boost in fight for financial smarts, Massachusetts is doling out over $200K in grants to local high schools aimed at teaching students to handle their cash. According to a press release by the State Treasurer’s Office of Economic Empowerment (OEE), the dough will help schools set up so-called Credit for Life Fairs, where students can learn to budget, save, and plan their financial future before they hit the real world.
The treasure chest of $223,548, carved up among 59 schools, marks a concerted effort by the OEE, the Division of Banks (DOB), and the Office of Consumer Affairs and Business Regulation (OCABR) to plant the seeds of financial wisdom in the minds of young Massachusetts residents. And for 15 lucky schools getting these funds for the first time, classes in places like Brockton, Cambridge, and Springfield can look forward to their very own financial education fairs.
“High school students deserve the opportunity to learn the financial skills they will need for every situation encountered throughout their lives,” State Treasurer Deborah B. Goldberg told, on record, in the press release. She touted that Credit for Life Fairs can prime these soon-to-be graduates for fiscal responsibility and savvy maneuvering through adulthood’s financial jungles.
In another first, schools with a lot of low-to-moderate income students get an extra $500—a nod to the reality that financial education often leaks through the cracks in the communities most in need. Ten schools bagged this bonus, signaling a move to level the playing field when it comes to economic know-how. As Layla R. D’Emilia, Undersecretary for the OCABR, put it: “The Credit for Life Fairs help students learn about financial topics like how to budget and save, pay for college, and live within your means.”
Commissioner of Banks Mary Gallagher expressed pride in this new round of grants, hinting that such concrete, hands-on financial lessons are the kind of stuff that builds a lifetime of good money habits. It’s a small investment now by the state that could mean fewer zeroes in the debt column for Massachusetts’ future workforce.
