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Schools around Australia awarded $350,000 for Financial Literacy

18 October 2005

From Glebe to Gladstone, Wodonga to Wanguri, Cairns to Cootamundra, Pearce to Peppermint Grove and Dover in Tasmania, secondary schools across Australia today received news of some 100 funding grants for financial literacy programs awarded by the Commonwealth Bank Foundation.

Following a highly successful inaugural grants program last year, the Commonwealth Bank Foundation has selected a further 100 recipients from more than 280 applications to each receive the $3,500 Financial Literacy Grants.

The Grants will fund programs that promote financial literacy among students from Year 7 to 12, some of which are repeat recipients for their successful 2004 programs.

They range from ‘real life’ simulation exercises for students making financial decisions such as renting a house or paying bills, to designing their own financial literacy program to be used as a teaching aid for primary school students.

The Grants are awarded to programs that are sustainable and show innovation and creativity that enables adolescents to develop an understanding of financial literacy.

Commonwealth Bank CEO and Chairman of the Commonwealth Bank Foundation, Mr Ralph Norris said "The Grants program aims to help the youth of today develop the critical skills and understanding of finances that will enable them to make informed decisions about their financial future."

"It is of great importance to the Australian people and economy that our children and our children’s children have the resources to become financially literate," he said.

The Commonwealth Bank is a leader in promoting greater financial literacy for young Australians. It has undertaken a number of initiatives to educate Australians about financial literacy including a Financial Literacy Curriculum Resource for teachers and developing a school level Financial Literacy Assessment. The Foundation also awards e-Learning Grants for primary schools.

The Financial Literacy Grants have been designed in conjunction with Business Educators Australasia (BEA), Australia’s peak business education teacher organisation.

For further information about the Commonwealth Bank Foundation 2005 Financial Literacy Grant recipients visit www.commbank.com.au/financialliteracygrants

 

ENDS

For further information or to arrange interview please contact
Commonwealth Bank, Media & Issues Management
Carolyne Parody
P: 9378 5965

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