SalemNews.com, Salem, MA

Local News

March 28, 2013

Salem High wins grant for financial literacy

SALEM — The state awarded grants this week to Salem High and 10 other schools to develop financial literacy programs.

The Gateway Cities grants target urban school districts that want to establish pilot programs for next school year to help students understand and manage their personal finances.

Salem High, however, appears ahead of the game.

The school established a “Money Matters” course more than five years ago that teaches students about credit cards, loans, taxes, bank accounts, personal budgets and even the stock market.

The $13,700 grant to Salem High will be used to nearly double an elective program that currently has about 50 students, an official said. Funds will be spent on iPads and professional development.

“I want more kids to take the course,” said Carol Carr, the head teacher in the business department at Salem High.

“It’s basic information everybody should have,” she said. “We teach kids ... how to get into business or careers, but we don’t teach people how to manage their money. It’s a big gap.”

Both the federal and state governments are pushing financial literacy courses, Carr said, in the wake of a financial crisis that saw people lose homes and jobs and struggle under mountains of debt.

Salem High teamed on the grant with Salem State University, Salem CyberSpace, Cabot Money Management and Salem Five.

Dorothy Siden, director of the Center for Economic Education at Salem State, served on a state advisory committee that worked on the Gateway Cities grants. Siden, chairwoman of the economics department at Salem State, said these course will teach essential knowledge to students heading out into the real world.

“They will be going to college,” she said. “They will be taking out loans. They have to realize the value of money. ... Most of them are working, and many have credit cards, and they need financial literacy.”

Funds also were awarded to high schools in Fall River, Haverhill, Holyoke, Lowell, Lynn, Quincy, Revere, Springfield and Worcester.

Tom Dalton can be reached at tdalton@salemnews.com.

1
Text Only | Photo Reprints
Local News

AP Video
Raw: 2 Shells Hit Fuel Tank at Gaza Power Plant Raw: Massive Explosions From Airstrikes in Gaza Giant Ketchup Bottle Water Tower Up for Sale Easier Nuclear Construction Promises Fall Short Kerry: Humanitarian Cease-fire Efforts Continue Raw: Corruption Trial Begins for Former Va Gov. The Carbon Trap: US Exports Global Warming UN Security Council Calls for Gaza Cease-fire Traditional African Dishes Teach Healthy Eating 13 Struck by Lightning on Calif. Beach Baseball Hall of Famers Inducted Israel, Hamas Trade Fire Despite Truce in Gaza Italy's Nibali Set to Win First Tour De France Raw: Shipwrecked Concordia Completes Last Voyage Raw: Sea Turtle Hatchlings Emerge From Nest Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins Raw: Bolivian Dancers Attempt to Break Record Raw: Israel, Palestine Supporters Rally in US Raw: Air Algerie Flight 5017 Wreckage
Comments Tracker