For Immediate Release - June 10, 2011

Grossman Recognizes High School Students for Financial Exam Excellence

17 Massachusetts Students Achieve Perfect Scores on Financial Literacy Test

Treasurer Steven Grossman today presented citations of recognition to 17 outstanding students who achieved a perfect score on the National Financial Capability Challenge Exam. The Treasurer made the presentations at a ceremony held at the Boston offices of the Federal Reserve Bank.

"This event today not only recognizes students for their remarkable achievements, but it also highlights the growing enthusiasm for promoting youth financial literacy in the classroom," said Treasurer Grossman. "The National Financial Capability Challenge supports the integration of invaluable life skills into school curriculums. As Treasurer, I want to see to it that participation in activities like this increases dramatically across the state."

Grossman said that the exam builds on his efforts to raise awareness about the need for financial literacy. Most recently, the Treasurer advocated for the successful passage of legislation that created the Financial Literacy Trust Fund, which will use privately raised funds to provide training to targeted populations about issues pertaining to saving tactics, consumer protection measures, and the power of compound interest in long-term financial planning.

The National Financial Capability Challenge is a joint initiative organized by the U.S. Departments of Treasury and Education. It is designed to promote the incorporation of personal finance education into school curriculums to increase the financial knowledge of high-school aged youths across the country. The 30-minute exam was taken by over 2,600 students across Massachusetts in March and April of this year.

"A solid foundation in financial literacy is a key component of a well rounded education and provides students with critical real-world skills," said Education Commissioner Mitchell Chester. "I congratulate the students recognized today for their noteworthy achievement."

In just one year, the total participation in the Challenge in Massachusetts has increased by over 730 students, a statistic Grossman characterized as, "indicative of a tremendous thirst for financial literacy programs among both educators and students." Also this year, 45 Massachusetts high schools and 577 Massachusetts students were ranked in the top twentieth percentile nationally of all those taking the exam.

All educators working with high school aged youth - regardless of whether or not they currently offer a financial education program - are encouraged to participate in the 2012 Challenge by registering at: http://www.challenge.treas.gov/ Along with further details about the Financial Capability Challenge, the site also provides free classroom resources for teachers.

A complete list of Massachusetts students who achieved a perfect score on the Challenge is attached. 

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The following Massachusetts students achieved a perfect score on the National Financial Capability Challenge:

Ryan Francis
Ashburnham, Oakmont Regional High School

Alan Rooney
Bedford, Bedford High School

Joseph Roberts
Palmer, Palmer High School

Zachery Charbonneau
Marlborough, Marlborough High School

Gerard P. Mattaliano
Marshfield, Marshfield High School

Jonathan Stratouly
Wilmington, Wilmington High School

Max Kinney
Mansfield, Mansfield High School

Dana Dourdeville
Amy Heacox
Justine Jesse
Greg Kornichuk
Hannah O'Day
Steven Price
Emily Roseman
Alex Stylos
Mattapoissett, Old Rochester Regional High School

Victoria E. Newbury
Georgetown, Georgetown Middle and High School

Jacob Shaenker
Longmeadow, Longmeadow High School