State Bank Commissioner is accepting applications for the Financial Literacy Education Fund
The Office of the State Bank Commissioner is accepting applications for a fund that supports financial literacy for Delaware residents.
The Financial Literacy Education Fund allows schools, nonprofits, and community organizations with financial literacy programs to apply for the grants to help educate about financial literacy.
The fund targets those groups that help students learn to save at an early age, help coach families on the path to home ownership, and give parents tools for financial independence to name a few.
This year, the total amount available is over $400,000, but State Bank Commissioner Robert Glen says the total for each winning applicant will be much less than that.
"We're inviting applications for up to $40,000,” said Glen. “We thought it would be more realistic for organizations to know that they shouldn't prepare an application for the whole $400,000, that they should focus on a more reasonable amount that they could expect to receive."
Glen says the funds have to be used for financial literacy programs and nothing else.
"They have to be used for financial education purposes. So, you can't use it to construct a building for the organization, or to pay general operating costs of the organization. It has to be focused on a program that's providing financial literacy," said Glen.
The State Bank Commissioner’s office wants to see applicants with programs reaching underserved populations and parts of the state with limited access to financial literacy services.
The office also wants to see a special emphasis on reaching out to veterans, seniors, and minority communities.
Organizations can apply on the Office of the State Bank Commissioner’s website, and they have until December 1 to do so.