Grants available to promote financial literacy education

For the seventh consecutive year, grant funds for Delaware schools and nonprofits to promote financial literacy across the state are now available through the state's Financial Literacy Education Fund.

"Delaware continues to lead the way in making financial education available to Delawareans from all walks of life," said Gov. John Carney. "Through a variety of programs that teach how to establish and maintain a household budget, educate youth on the importance of having good credit, and help families buy their first homes, Delaware's schools and non-profit organizations have the tools to promote healthy financial decision making."

Since the FLEF was established in 2010, approximately $2 million has been awarded to more than two dozen organizations to improve financial literacy for Delawareans of all ages. Students in Delaware schools have learned the importance of saving money, families living in rental housing have been coached along the path to homeownership, and pregnant and parenting young women have learned how to develop financial plans to strengthen their futures.

This year, a total of $270,000 will be made available to support programs that meet criteria established by the Office of the State Bank Commissioner and the Department of Education. Funding for the FLEF is derived from a license fee charged to businesses that make high-cost payday loans and car title loans.

Proposals for competitive grants will be considered on the basis of how they improve the financial literacy of Delawareans, especially programs that are proactive, preventive, and forward-thinking. Applications for programs and services designed to reach populations or geographic regions that have had limited access to financial literacy programs are encouraged, with special emphasis on reaching out to members of the military, seniors and minority communities.

All schools recognized by the Delaware Department of Education and Delaware organizations with 501c3 federal tax-exempt status are eligible to apply. The FLEF has one competitive grant cycle each year, overseen by an award committee.

Grant applications are due by Friday, Sept. 15, and must be completed using the form available at www.banking.delaware.gov. Forms should be emailed to Dawn Hollinger at the Office of the State Bank Commissioner (dawn.hollinger@state.de.us) along with any attachments. Receipt of grant applications will be confirmed within three business days. If applicants do not receive confirmation, they should contact Dawn Hollinger at 302-739-4235 and resubmit their applications.