Hanscom FCU Teaches Finances to Local High School Studets

Students in the Air Force JROTC program at Lowell High School will enter adulthood with a firmly established financial outlook, thanks to a six-week course taught by Hanscom FCU. The partnership, started 15 years ago, has helped thousands of young people understand the basics of smart money management.

"These cadets will soon be out on their own, and they need to know how budgets work and how to handle a credit card," observed chairman of the board Paul Marotta. "We know how to advise people about their money, and it is great to know we are helping these young people start out right."

Hanscom FCU Relationship Manager Dan Capra is the instructor. With 96 students in this year's program, he is busy answering questions and opening young minds. "If you haven't had to match your income and expenses before, it can be challenging to understand you have to set goals and then monitor your progress," Capra said.

The course winds up next month with a field trip to Hanscom AFB. Volunteers from Hanscom AFB and Hanscom FCU set up a CU 4 Reality tour. Students are asked to choose an occupation. Then they are given a salary and a list of expenses. As they visit tables representing typical expenses, students decide on the type of housing, transportation, clothing they will have. All items have to fit in the budget, including a non-negotiable savings contribution.

"It's a chance for students to practice what we discuss in the classroom," Capra explained. "It's an eye opener when students have to make priorities when they money doesn't match expectations. Will they give up having their own car, or will they get a roommate to save on rent? These are choices people make every day. It gets them thinking."

In addition to the Lowell High program, Hanscom FCU teaches at the Bedford and Billerica high schools' combined AFJROTC program.