For Immediate Release - February 21, 2017

Division of Banks and State Treasurer’s Office Announce High School Grant Recipients of the Financial Literacy Education Innovation Fund

Boston, MA (February 21, 2017) – The Massachusetts Division of Banks (Division) and State Treasurer Deborah B. Goldberg’s office today announced the second round of the 2016-2017 recipients of Financial Education Innovation Fund grants. This is the fourth installment of these grant awards, funded by the Division through settlements over alleged unlawful lending practices. The grants help strengthen financial literacy and develop financial reality fairs in high schools across the Commonwealth.

The financial reality fairs supported by the Innovation Fund grants are most commonly referred to as Credit for Life Fairs. These fairs are organized through the collaboration of schools, financial institutions, non-profits, and local businesses.

"I have personally witnessed the positive impact the Credit for Life fairs have had on our high school students,” said Treasurer Deb Goldberg. “The inclusion of chapter 766 schools within this round of grants highlights our commitment to bring quality financial education to every student across the Commonwealth.”

Through an extensive application process that culminated this month, the Treasurer’s Office awarded 21 high schools across the Commonwealth nearly $80,000 in grant money to expand upon or establish financial reality fair programs.

“Once again, it’s gratifying to be able to fund these financial literacy initiatives. The grants that fund these fairs are 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.

“We are pleased to partner with the Treasurer’s Office again awarding grants through the Innovation Fund,” said Terence McGinnis, Commissioner of Banks. “Financial literacy is important to begin at a young age, and the Credit for Life Fairs are a small piece of the puzzle helping to shape the financial future for students.”

2017 Grant Recipients:

  • Agawam High School
  • Amesbury Innovation High School (with Amesbury High School)
  • Andover High School
  • Assabet Valley Regional Vocational School District
  • Bay Path Regional Vocational Technical High School
  • Cape Cod Regional Technical High School
  • Charlestown High School
  • Community Academy of Science & Health
  • Cotting School
  • Dean Technical High School
  • Dedham High School
  • East Bridgewater High School
  • Easthampton High School
  • Hingham High School
  • Learning Prep School
  • Melmark New England
  • Newton North High School
  • Nipmuc Regional High School
  • Oliver Ames High School
  • Paulo Freier Social Justice Charter School
  • Pittsfield South High School
  • Plymouth South High School
  • South Hadley High School
  • Wahconah Regional High School
  • West Springfield High School (with Holyoke High School)

The Division of Banks is an agency within the Office of Consumer Affairs and Business Regulation which oversees state-chartered banks and credit unions. It also oversees the regulation of mortgage lenders, mortgage brokers, mortgage loan originators, debt collectors, loan servicers, retail installment sales finance companies, insurance premium finance companies, motor vehicle sales finance companies, small loan companies, check cashers, check sellers, and foreign transmittal agencies doing business in Massachusetts. For more information, visit the Division’s website at http://www.mass.gov/dob.  To contact the Division’s Consumer Hotline call 1-800-495-BANK (2265).