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State grant money available for financial education programs

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State grant money is now available to support financial education programs offered by nonprofits. Grant applications are due by September 15.

The state’s Financial Literacy Fund has awarded approximately $2 million to more than a dozen organizations working to improve financial literacy since the fund was established in 2010. This year, $270,000 is available to support programs that meet criteria established by the Department of Education and the Office of the State Bank Commissioner.

The money comes from a license fee charged to car title loan companies and payday loan companies. Proposals for the competitive grants will be considered based on their effectiveness, with a focus on programs that are proactive, preventive and forward-thinking.

Programs designed to reach populations and geographic regions that have had limited access to financial literacy programs are encouraged to apply, according to a press release from the Delaware Department of State. The agency is also targeting seniors, minority communities and members of the military.

All 501(c)(3) organizations and schools recognized by the Delaware Department of Education are eligible. The application form is available at banking.delaware.gov. Forms should be emailed to Dawn Hollinger at the Office of the State Bank Commissioner (dawn.hollinger@state.de.us) along with any attachments. Receipt of grant applications will be confirmed within three business days. Applicants that don’t receive confirmation in three days should contact Hollinger at 302-739-4235 and resubmit their applications.

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