The Rhode Island Student Loan Authority (RISLA) has awarded a total of $50,000 to 15 high school seniors and 10 college students across Rhode Island as part of its efforts to promote financial literacy.  

According to Charles Kelley, Executive Director of RISLA, the monthly financial literacy learning module and quiz was introduced last October to allow Rhode Island students the opportunity to win $2,000 by answering financial literacy questions pertaining to credit, budgeting, and other college-related financial topics. 

 “We were very pleased to have seen over 800 students participate each month and several students returning month after month to increase their chances to win, all the while gaining important financial literacy tips to help them map their future well-being.” said Kelley.

For a complete list of winners visit RISLA’s Knowledge for College webpage.

 Given the success of this program, RISLA will be continuing this effort with new quiz questions and invites for students to participate in next year’s program beginning September 1, 2020.  Three winners will be chosen each month, October through May, and once again there will be a bonus drawing for the participants who enter each and every month.

 To enter, participants will be asked to read a short paragraph on topics, such as Paying for College, Budgeting, and Credit, followed by three multiple choice questions to answer.  Upon completion, participants will be entered into a random drawing to be eligible to win a $2,000 scholarship.  Students are encouraged to enter monthly, but can only win once per school year.  New questions will be posted on the first of each month. Winners will be notified on the first business day of the following month.

To be eligible students must be a Rhode Island resident and enrolled for undergraduate or graduate school in the fall of 2021 at a Title IV Higher Education Institution within the U.S.