Gateway Regional students Theodore Deangelis, Bow Briggs and Justin Ruclu navigate future finances at the Credit for Life Fair.
Reminder Publishing photo by Amy Porter
WESTFIELD — As students from area high schools made their way around the booths at Credit for Life, set up in the Westfield High School gymnasium on April 8, they grappled with how they would manage their future finances as 25-year-olds in their chosen careers.
Most found the exercise to be worthwhile.
Gateway Regional students Theodore Deangelis of Russell, Bow Briggs of Chester and Justin Ruclu of Huntington explained that when they first got to Credit or Life, they were given a credit score in the low-to-mid 600s, with a chance to take a quiz and improve their scores.
Deangelis explained that a score of 650 was the minimum needed to rent a place.
“It’s a pretty good interaction. I can apply for a part-time job and get a car,” he said.
Eliza Mueller of Russell and Lily Peloquin of Huntington, also from Gateway, found it very informative. “Helps us plan for our future,” they said, saying they were learning about car payments, loan payments, buying a house and getting a second job. “It’s good to know what’s coming.”
Kate Perez, WHS math supervisor, served on the organizing committee along with Patricia Healy, WHS counselor, Melissa Taylor of Beacon Bank and Linda Saltus, a retired finance professional. She said Credit for Life is beneficial to the students who go through the whole fair and visit all the booths.
“Students pick a career, get a sheet with monthly income, and fill out needed expenses. The goal is to have money left over at the end of the month and hopefully have some savings. They want to end with a positive number. Even a negative number teaches them something,” Perez said.
Ryan Evans, who is enrolled in electrical wiring at Westfield Technical Academy, said he chose an electrician as his career, making $3,600 a month. He said when he first arrived, he received a credit score of 642 and went to get housing, but the score was too low. He took the quiz and raised it to 750.
“Going around, I realize how much money it really is. I’m already in debt, and all my stuff isn’t filled out yet. I might have to cut down on costs, or get a part-time job to afford it,” Evans said.
Lindsey McLaughlin of Tighe & Bond and Lisa Murray of OMG Building Products, LLC were stationed at the Housing booth. They found the students to be very engaged, friendly and respectful.
“One kid actually asked me, ‘How come rent is more expensive than what my parents pay on mortgage,’ ” said McLaughlin. Murray said the parents probably bought their house a long time ago.
Southwick Regional business and computer science teacher Melissa Trzasko said she has been attending Credit for Life for five years with her students. “This is phenomenal for the kids to go through. You can teach as much as you want to in class — this reinforces the concepts.”
Her students, Paige Stopa and Ella Anderson, agreed. “This is what we’re learning in class and how it plays out in real life, so we know what to expect,” Anderson said.
“It’s seeing how everything is like your parents tell you, first hand,” said Stopa.
Joshua Elmer, who studies collision technology at WTA, said he chose welding as a career that earned $3,001 monthly income. He also got a part-time job. “I’ve learned how to get car insurance — I’m getting a car soon, and how to apply for a job and interview.” He said he was surprised to learn about food plans and chose the lower one at $520 a month. For housing, he chose to share a two-bedroom apartment and split the cost of rent, electricity and the internet.
Attending with Elmer and his shopmate Angel Gomez was collision technology teacher Michael Vera. “I think it’s good to see what we as adults go through. It’s good they understand credit.”
“I graduated from Putnam. They did not have financial literacy. I wish they had fairs like this when I was in high school,” Vera said.
Also attending the fair was Marjorie Rodriguez, assistant director of the Faces program at Westfield State University, which serves students in or aging out of foster care and those who are housing insecure. She brought a couple of students from the Faces program with her. For them, the challenges presented at Credit for Life were imminent.
Sky Santiago, president of the Faces Club, said she found the fair to be helpful. “I’ve never been to get a car or get a car loan. That’s what I’m most nervous about — car insurance and finances,” she said. She also went back for the quiz to improve her credit score.
“At first, I got a 655, but I wanted to make sure I got everything I needed. I also got a part-time job in internet technology and a full-time job as a therapist. That’s what I’m studying at Westfield State University,” Santiago said.
Lyle Rivera chose the career of graphic designer, closely related to the WSU course of study.
“I have more of an idea how to survive. School and Faces have been very helpful in that mindset, and I have a community in there,” Rivera said.
Rodriguez said only 2% of foster kids graduate from a four-year college. “This year will be our biggest graduation of 45 students.”
Credit for Life is sponsored by MassHousing, the Financial Education Innovation Fund Grant awarded by the Office of Economic Empowerment — State Treasurer; Beacon Bank, BankESB, Peoples Bank, Westfield Bank, WG&E, Westfield Public Schools and Volunteers in Public Schools.
