Students graduating from high school might be going on to college, entering the world of work, or moving on to some other endeavor.
No matter where they go, educators say the students need to be better prepared to manage their money — the cash in their pockets, their personal check books and their credit cards.
Now, Haverhill High students can learn those skills right at school.
Haverhill High has received a $20,000 grant from the state to implement a financial literacy Program. The three-year pilot program will provide students with skills to handle personal finances and manage money and credit. Only 11 schools in 10 cities or school districts were awarded grants as part of the Financial Literacy Pilot program created by the state.
”One of the things that research shows in America is that many students are not prepared when they go out into the world to handle things like check books, loans, budgeting and credit card use, so the state determined we have to educate high school students more in financial matters,” said Haverhill High Principal Bernard Nangle.
”When kids turn 18, they get a lot of credit card applications coming at them and they can get into trouble because of it,’’ he said. “We want to provide students with a background about what finances are all about and how to better manage a budget for expenses.”
The 10 communities and districts receiving grants are Haverhill, Fall River, Lowell, Holyoke, Lynn, Quincy, Revere, Salem, Springfield, and Worcester Technical.
The $20,000 first-year grants were announced by State Treasurer Steve Grossman and Mitchell Chester, commissioner of elementary and secondary education for the state.
“We are taking action to give young people strong financial foundations for their future,” said Grossman. “These 10 communities will help provide each student with the tools to achieve basic financial literacy before graduation.”