GEORGETOWN — Georgetown Middle High School has received a $2,500 state grant from the state for its Credit for Life financial education fair.
At Credit for Life fairs, participating students play the roles of 25-year-olds, and each is assigned a specific occupation and salary. By visiting different booths at the fair, students have to stay within the means of their budgets as they try to find housing, buy groceries and deal with unexpected expenses. The real-world experiences help students learn financial management skills.
The grants were announced Tuesday by the Baker administration and the state treasurer’s office.
“I have experienced firsthand the amazing impact ‘Credit for Life’ fairs have on our high school students,” said Treasurer Deborah Goldberg in a statement. “This kind of experiential learning helps students learn how to budget their money responsibly and make informed financial decisions as they prepare to enter college or begin their careers.”
Georgetown Middle High School is among 43 schools across the state receiving grants. In all, $123,695 was awarded to schools in order to expand or establish financial education programs.
The Financial Education Innovation grants, which began in 2015, are funded through the Division of Banks’ settlements over alleged unlawful lending practices. To date, the division has committed more than $500,000 in funding for the program.