More than 40 high schools across the commonwealth will receive a total of more than $123,000 in funding to expand or establish financial education programs, including eight first-time applicants.

The Baker-Polito Administration and the Office of the State Treasurer Deb Goldberg’s Office announced the second round of recipients of financial education innovation funding for the 2018-2019 academic year earlier this week.

The initiative began in 2015 to provide capital to high schools in Massachusetts to expand “Credit for Life” and financial education fairs. These awards are funded through Division of Banks’ settlements over alleged unlawful lending practices.

“Credit for Life fairs are an extraordinary opportunity for students to prepare for financial independence in a fun and innovative way,” Edward Palleschi, undersecretary of the Office of

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