Governor Markell Announces New Funding For Financial Literacy Programs

Press Release

By:  Jack Markell
Date: Feb. 15, 2013
Location: Unknown

Governor Jack Markell has announced the availability of a third round of grants to promote financial and economic literacy among Delawareans of all ages through the state's Financial Literacy Education Fund (FLEF).

"The Financial Literacy Education Fund was established to help Delawareans reach their financial potential through education on how to wisely budget, save, invest and generally plan for the future," said Governor Markell. "In the first two years of the program, and through a variety of organizations and teaching methods, hundreds of Delawareans have been given powerful tools to be able to take control of their finances."

In 2012, 22 organizations throughout Delaware received support through the FLEF.

Non-profit organizations and K-12 schools throughout Delaware are eligible to apply for a total of $350,000 to support programs that meet criteria established by the Office of the State Bank Commissioner and the Department of Education. Funding for the program is derived from a license fee charged to businesses that make high-cost payday loans and car title loans.

Proposals for competitive grants will be considered on the basis of how they improve the financial literacy of Delawareans. The State is particularly interested in funding proactive, preventive, and forward-thinking proposals. Applications for programs and services designed to reach populations or geographic regions within the State that have had limited access to financial literacy programs are encouraged, with special emphasis on reaching out to members of the military, seniors and minority communities.

All schools recognized by the Delaware Department of Education and nonprofit organizations within the State of Delaware that have a 501(c)(3) designation by the Internal Revenue Service are eligible to apply. The Fund has one competitive Program Grant cycle each year. A grants committee will oversee all grant-making.

Grant applications are due no later than March 18, 2013 and must be completed using the form available at banking.delaware.gov. Forms should be sent 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 3 business days. If applicants do not receive confirmation, they should contact Ms. Hollinger at 302-739-4235 and resubmit their applications.