The Massachusetts Division of Banks, in partnership with the State Treasurer\u2019s Office, is allocating $225,000 to the Financial Education Innovation Fund to support Credit for Life fairs during the 2017\u20132018 school year. Schools must submit a completed application to the Office of the State Treasurer by July 14, 2017. Grant recipients will be notified in August.\n\nMassachusetts public and charter high schools and Chapter 766 special education high schools are eligible to be considered for awards of up to $5,000. Funding for joint Credit for Life Fairs, including more than one school, is a new addition to the 2017\u20132018 school year grant program.\u00a0 Joint Credit for Life Fairs may qualify for funding in excess of $5,000.\n\n\u201cI have experienced firsthand the critical skills these Credit for Life fairs teach our high school students,\u201d said Treasurer Goldberg. \u201cThese new grants will help students learn to budget their money responsibly and make informed financial decisions as they prepare to enter college or begin their careers.\u201d\n\nThe grants are funded through the Division of Banks settlement over alleged unlawful lending practices. This is the fourth installment of the Innovation Fund grant program; previous awards have been granted to more than 70 high schools across the Commonwealth. \u00a0\u00a0\n\n\u201cIt\u2019s important that we\u2019re helping reinforce financial literacy during students\u2019 high school years before they go off to college or join the workforce. These Credit for Life fairs are an effective and fun way to learn to manage money, credit, and savings throughout their lifetimes,\u201d said John Chapman, Undersecretary of the Office of Consumer Affairs and Business Regulation.\n\n\u201cWe are proud to once again support financial education initiatives at high schools throughout the Commonwealth,\u201d said Commissioner of Banks Terence A. McGinnis. \u201cAn informed consumer, no matter what age, is empowered to make smart financial decisions.\u201d\n\nCredit for Life Fairs are designed to be an innovative 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.\n\nThe application for the Innovation Fund initiative is available on the State Treasurer\u2019s Office of Economic Empowerment website at\u00a0www.mass.gov/treasury/innovationfund.