COLUMBUS — Time is running out for organizations to apply for funding to develop financial literacy programs that benefit Ohio children and young adults. The Ohio Department of Commerce Division of Financial Institutions reminds educators and financial entities to make sure they submit applications for this year’s Financial Literacy Education Grant before the April 30 deadline.

The application is available at com.ohio.gov/FinancialLiteracy.

Ohio’s Financial Literacy Education Grant aims to provide financial support in areas of need that address gaps in financial education delivery to Ohio children and young adults. According to a 2022 Time Magazine report, over the previous decade, there was a 19% decline in financial understanding among Americans, with one-third of Americans lacking an understanding of interest rates, mortgage rates and financial risk.

Organizations are invited to apply for a portion of the $50,000 total grant to fund innovative programs during fiscal year 2025 that are dedicated to instilling financial literacy among young Ohioans aged 5-25 through virtual and in-person training. With an average grant request of approximately $15,000, the initiative helps to ensure a broad distribution of resources to maximize educational outreach and impact.