MasterCard to sponsor American Payroll Association’s Money Matters National Education Day
MasterCard has announced that they will be the inaugural sponsor of the American Payroll Association’s Money Matters National Education Day on Sept. 9, 2010 during National Payroll Week. The Money Matters National Education Day is a day devoted to helping those entering the workforce to understand the payroll withholding system and their paychecks. MasterCard will be offering information about prepaid cards and the benefits that they offer.
American Payroll Association will visit high schools and youth organizations to teach lesson plans developed in conjunction with the National Council on Economic Education. The lesson will teach students about the many elements of a paycheck, estimated taxes and how to calculate taxes. In 2009 more than 56,000 students participated in the program.
“At MasterCard, we believe a solid understanding of the payroll system is essential to achieving financial literacy and success,” Laura Kelly, senior vice president, Global Prepaid of MasterCard worldwide said. “That’s why we’re proud to sponsor Money Matters National Education Day, which helps today’s young people, who may be receiving their first paychecks, better understand where their paychecks come from and where their money goes.”
MasterCard will also sponsor four scholarships for junior and senior high school students for continued education. They will offer one Grand Prize of $5,000 and three scholarships of $1,000. Students can qualify for the scholarships by demonstrating an understanding of the MasterCard Money Matters National Education Day curriculum. Students will be chosen randomly from a pool of eligible participants.
