News  State Agencies Announce Recipients of Financial Literacy Education Grants

The State Treasurer’s Office of Economic Empowerment (OEE), in collaboration with the Division of Banks (DOB) and the Office of Consumer Affairs and Business Regulation (OCABR), announced the recipients of the newest round of the Financial Education Innovation Fund Grants. These grants provide Massachusetts high schools and special education programs with funding to hold financial education events for students called “Credit for Life Fairs.”

Following an application period that ended on February 17^th, the three agencies awarded grants to 15 schools, totaling $42,265.00.

"The Credit for Life Fairs offer high-quality experiential learning for young adults in Massachusetts," said State Treasurer Deborah B. Goldberg. "Students deserve access to education that will prepare them for the kind of financial situations they will encounter throughout their lives."

“We are proud to continue to support financial education efforts by providing the funding for the Credit for Life Fair program. These fairs held around the Commonwealth provide opportunities to equip students with tools to be better informed about personal financial decisions,” said Commissioner of Banks Mary Gallagher.

“This grant is a fantastic opportunity to convey financial concepts to students who will soon enter adulthood,” said Edward A. Palleschi, Undersecretary for the Office of Consumer Affairs and Business Regulation. “These fairs are important venues for preparing our next generation to manage their financial well-being. I am glad to deliver an opportunity once again for such valuable lessons.”

The recipients are:

Total: $42,265.00.

This marks the 11^th round of grant funding since 2015 and the second round of funding for the 2022-2023 school year. In December, the three agencies granted a total of $115,400 to 39 Massachusetts schools during this school year’s first round of funding.

Since 2015, over 40,000 Massachusetts students have attended Credit for Life Fairs. The Financial Education Innovation Fund Grant was established as an ongoing effort to strengthen access to financial literacy throughout Massachusetts. This financial education program is funded by the Division of Banks through a settlement over alleged unlawful lending practices.