Funding Opportunity: “A New Partnership to Promote Financial Education and Savings Programs”

17 Nov 2010 |

The Department of Education (DOE) has posted this new funding opportunity on their blog! It looks like it is just getting started, but it’s something to keep track of as more details emerge.

The press release from November 15 stated that “U.S. Secretary of Education Arne Duncan, Federal Deposit Insurance Corporation (FDIC) Chairman Sheila C. Bair, and National Credit Union Administration (NCUA) Chairman Debbie Matz joined together today in signing a new agreement that aims to help millions of students get on the path to financial success. The agencies will work together to facilitate partnerships among schools, financial institutions, federal grantees and other stakeholders to provide effective financial education; increase access to safe, affordable and appropriate accounts at federally insured banks and credit unions, and encourage saving.”

In addition the “three agencies will also work together to increase participation in the National Financial Capability Challenge, a voluntary awards program designed to challenge educators to teach high school students the basics of personal finance, and reward success.”

The DOE will post more information as it becomes available over the coming weeks “including a toolkit for stakeholders who are interested in working together on this important topic.”  In addition they are open to the public’s suggestions for youth financial education and savings programs during this process; email phil.martin@ed.gov.