Dr. Heidi T. Riccio, Superintendent
565 Maple Street
Hathorne, MA 01937
For Immediate Release
Wednesday, Dec. 4, 2019
Contact: Kelsey Bode
Email: [email protected]
Essex Tech Receives $8,500 in Grants to Hold First Credit for Life Fair
DANVERS — Superintendent Heidi Riccio is pleased to share that Essex Tech has been awarded $8,500 to support financial literacy education programming for students.
Essex Tech has been awarded $5,000 in Financial Education Innovation funding from the state and $3,500 from the Eastern Bank Charitable Foundation to hold the school’s first Credit for Life Fair this April. The two grants will fully fund the event.
Credit for Life Fairs task students with building a hypothetical budget. Students are first assigned a monthly income, and then visit tables overseen by local banks and businesses, as well as community volunteers, and make financial decisions based on their income regarding topics including insurance, transportation, savings and retirement, career counseling, luxuries, cell phone plans and education. By walking through the process of building a realistic budget, students develop a better understanding of healthy spending choices, the importance of budgeting and how to make complex financial decisions.
“Credit For Life Fairs are a really effective way to help students understand budgeting and financial literacy, and we’re incredibly thankful to the state and the Eastern Bank Charitable Foundation for awarding us this funding to give our students this opportunity,” Superintendent Riccio said. “It’s critical that students develop an understanding of finances to prepare for success.”
In addition to the Credit for Life Fair this spring, Essex Tech currently offers a financial literacy elective to students, and aims to eventually expand its financial awareness program as well.