MENTOR – Seniors from Mentor High School competed in the Mad City money scholarship competition on Thursday, March 6, at 9 a.m., demonstrating their ability to manage the financial responsibilities of adulthood.
During the 90-minute live, in-person competition, teams of students visited onsite merchants to buy housing, transportation, food, clothing, daycare and other wants and needs – all while balancing a budget.
Playing a simulated game of life, participating teams compete for up to $5,000 in scholarships per school, totaling $25,000 across all five participating schools.
Winners were chosen based on their ability to achieve an average balance of $100 as a team and to turn in their competition packages within the allotted time.
Cardinal employees were onsite to review and score the proposed budgets based on the team’s math and budgeting skills. First place teams win $2,250, second place teams, $1,500 and third place teams, $1,200.
Joe Glavan, director of workforce development at Mentor Public Schools, emphasized the importance of real-world preparation in education.
“At Mentor Schools, we love engaging students in this fun exercise where they learn valuable money management skills before adulthood,” he said. “Managing money is crucial and we believe it’s essential for preparing our students for their next steps in life. We deeply appreciate Cardinal’s commitment to the community and their support in providing the perfect level of educational assistance to our students.”
Other competitions will take place at several area high schools over a one-month period:
• Notre Dame Cathedral Latin High School at 11 a.m. on March 12
• Willoughby South High School at 9 a.m. on March 19
• Eastlake North High School at 9 a.m. on March 20
• Lake Catholic High School at 9:30 a.m. on April 2
“Cardinal Credit Union is once again excited to partner with area high schools for the 15th consecutive year as part of our financial education initiatives in northeastern Ohio,” said Christine Blake, CEO of Cardinal Credit Union. “The Mad City Money Scholarship games exemplify our commitment to delivering financial benefits to the community in an engaging, dynamic and educational way. This represents the culmination of our work in the local school systems each year.”
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