CompareCards Announces Recipients of the “Financially Literate Youth” Grant Program
Funding for Financial Literacy Programs Awarded to Four U.S. Schools
Today, CompareCards announced the four winners of its Financially Literate Youth (FLY) program. The four, $5,000 grants will be used for financial literacy programs in four schools located across the country.
“We wanted to expand upon our financial education offerings and provide funding for schools to implement a program of their choosing,” said Chris Mettler, founder of CompareCards. “Our grant program is unique because of the low barrier to apply and the limited restrictions on how schools can use the funding. We were very pleased with the applications we received and the unique programs that were submitted.”
Applications were evaluated based on the quality, completion, and feasibility of their proposed or existing program(s) and the potential of their program to effectively educate their students about financial choices.
The winners are as follows:
Brockton High School, Brockton, MA
Brockton High School plans to use the grant funds for the Credit for Life Fair (CFL), an annual program that involves community volunteers, high school faculty and students. CFL allows students to participate in a three-hour simulation in which they choose a career and role-play their financial lives at age 25. Students receive a packet that contains their income, debt, credit score, and more, and then make decisions about how much of their monthly income to devote to various bills, luxury items, and more. The program provides students with the foundations for understanding, planning, budgeting, and developing ethical strategies to help them become financially successful and knowledgeable adults.
James and Grace Lee Boggs School, Detroit, MI
James and Grace Lee Boggs School plans to use the grant funds to purchase 16 iPads to be used in a six-month financial literacy course. Students will discuss and debate financial decisions, identify their own needs from wants, and defend those within the group. They will learn to discern durable from non-durable goods, immediate return from delayed gratification, and gifting from giving. Students will use the iPads for budgeting programs, tracking currency, and maintaining a banking system.
Mt. Auburn International Academy, Cincinnati, OH
Mt. Auburn International Academy plans to use the grant funds to launch the Credit Start Financial Education Program. In partnership with Trinity Debt Management, the program will provide students with six weeks of financial education, giving them the knowledge, skills, attitudes and behaviors needed to make sound financial decisions. Instructors will emphasize real-life applications as well as theoretical concepts and provide interactive classroom discussions, lectures, group activities, case studies, and prepared workbook assignments.
South East High School, South Gate, CA
South East High school plans to use the grant funds for purchasing textbooks and various technologies that will assist them in implementing the Common Core Standards for mathematics. These materials will allow students to connect mathematics to real life, teaching them to evaluate different strategies that they can put in place for their financial future. It will highlight the personal value and financial benefit they can achieve and analyze their vision of their financial future.
Each of the four schools will implement these programs during the 2014-2015 school year and will share overall results with CompareCards upon program completion.
“One of the biggest obstacles schools face in implementing a financial education program is funding. Our hope is that these grants will allow educators at Brockton High School, South East High School, Mt. Auburn International Academy, and James and Grace Lee Boggs School, to teach students positive financial behaviors, arming them with tools that will help them make smart financial decisions in the future,” said Mettler.
To learn more about FLY and future grant opportunities, visit comparecards.com/FLY.
CompareCards.com, www.comparecards.com, was formed in 2005 as a listing resource, but has grown into one of the most trusted credit card comparison sites used today. Users are able to compare credit cards using a side-by-side comparison tool to find the best offer for them based on the factors that are important to each individual. CompareCards also offers customers additional resources and financial literacy information via their blog, CompareWallet and Education Center.