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Last Updated: 02/01/12

News Release

Federal Reserve Bank of Chicago Announces 2012 Money Smart Kid Essay Contest

CHICAGO- In support of  Money Smart Week® April 21-28,  the Federal Reserve Bank of Chicago (FRBC) and its partner organizations are  sponsoring the Money Smart Kid Essay Contest.


Students in grades 5-8 are encouraged to write an essay of 300 words or less on the following topic:


Give an example of when it is wise to borrow money and when it is not.  What factors do you need to consider to help you make a responsible choice?  Please be sure to discuss the concepts of decision making and opportunity cost in your answer.


Six finalists will be selected to attend the April 23 Money Smart Kick-Off breakfast, where  the student who writes the winning essay will be named this year’s Money Smart Kid and will receive a $5,000 scholarship from BMO Harris Bank.  Two $2,500 scholarships, sponsored by Country Financial, will be awarded to the runner-ups.  The first 20 teachers to have two students submit an essay will receive a $25 gift card courtesy of BMO Harris Bank.

Deadline for essay submissions is March 23, 2012. 


“The Money Smart Kid is an ambassador for the bank’s financial education initiative,” said FRBC Outreach Manager Alejo Torres. “Since the contest began in 2003, we have been impressed at how the contest has grown, and we are encouraged by the increasing appetite young people have for financial education.” 

For more information about Money Smart Week or the Money Smart Week Kid Contest, go to:  www.moneysmartweek.org


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