For the City Times

Governor Scott Walker announced 11 grants totaling more than $152,000 have been awarded to schools across Wisconsin to enhance personal finance education. Grant recipients were selected by the Governor’s Council on Financial Literacy out of a field of 51 applicants.

“These financial literacy grants will help thousands of students broaden their personal financial knowledge and become better prepared to make sound financial decisions as adults,” Governor Walker said. “Several of the grant recipients indicated they will use their funding to develop curriculum to help students and their families better prepare for the cost of higher education in Wisconsin.”

Funded by the Department of Financial Institutions (DFI), the grant program was open to Wisconsin’s K-12 public and private schools and is a collaborative effort between the Governor’s Council on Financial Literacy, DFI, and the Department of Public Instruction (DPI).

Earlier this year, Governor Walker signed college affordability legislation into law designed to make higher education more affordable for students and families throughout Wisconsin. Act 284 requires any higher education institution in the state that offers an associate degree or higher to inform each student annually about student debt and the costs of attendance.

Governor Walker additionally announced the creation of a Student Loan Debt Specialist position housed within DFI’s Office of Financial Literacy. This position serves as an outreach coordinator to inform current and future student loan borrowers about potential debt management, investment, and educational options.

“Thank you to educators who took the time to craft applications aimed at helping their kids learn financial literacy,” State Superintendent Tony Evers said. “Being introduced to personal finance during K-12 helps our students become prepared citizens and gives them the ability to succeed in the next phases of their life, no matter what they choose.”

DPI conducted the initial review of the 51 applicants from throughout the state, and the Governor’s Council on Financial Literacy made the final recommendations. The grant program is designed to support the efforts of individual teachers and school districts to begin innovative and sustainable financial literacy programs and events, with a specific emphasis on student loan debt.

Wisconsin is the first state in the nation to develop content and performance standards to define what students should know about financial literacy.

“DFI is committed to elevating the level of personal financial skills for all Wisconsin residents, especially for our students,” DFI Secretary Lon Roberts said. “This program is an excellent example of how DFI, in collaboration with other stakeholder groups such as DPI, is following through on its commitment to promoting financial literacy.”

The following organizations and schools are receiving grants:

• Cooperative Education Service Agency #4, West Salem – $26,323
• Green Bay Area Public Schools – $19,854
• La Crosse 7 Rivers High School – $10,000
• Madison Metropolitan School District – $30,000
• Milton School District – $10,000
• New Berlin School District – $10,000
• Phillips School District – $5,841
• Rib Lake School District – $10,000
• River Valley School District – $10,000
• Three Lakes High School – $10,000
• Wisconsin Rapids Lincoln High School – $10,000