Mayor Domenic J. Sarno joined with Congressman Richard E. Neal on Monday afternoon at American International College for an announcement on $1,050,000 of federal funding earmarked by Congressman Neal to support the establishment of a Center for Financial Literacy and Economic Prosperity at American International College. AIC Interim President Nicolle Cestero and Chairman of the Board of Trustees Frank Colaccino also joined.
The allocation was made possible through Congressionally Direct Spending (CDS) from the Department of Housing and Urban Development. Congressman Neal included funding for this project in the Fiscal Year 2024 spending bill that was signed into law by President Biden on March 9, 2024.
Mayor Sarno stated, “American International College is a great institution and partner to our city of Springfield. We are looking forward to the development of the Center for Financial Literacy and Economic Prosperity at AIC which will have a positive impact not only for AIC students and on campus, but for our entire Springfield community. Thank you to Congressman Neal for his tireless advocacy on behalf of our Springfield, he never forgets his roots and what projects like this mean for our entire region. Thank you to longtime AIC board chair Frank Colaccino and AIC Interim President Nicolle Cestero and the entire AIC community for your continued commitment to making Springfield and our residents the best they can be.”
“As we close out Financial Literacy Month, I cannot think of a better way to highlight the importance of financial education and the role it plays in creating opportunities for personal economic growth. The funding announced today will help establish AIC’s Center for Financial Literacy and Economic Prosperity, an initiative that will uplift economically disadvantaged residents throughout the Springfield community,” said Congressman Neal. “I would like to thank AIC for their longstanding commitment to continued efforts to provide educational opportunities to a diverse community. This center will give residents access to educational programs that would otherwise not be available, allowing them to develop the tools to make educated financial decisions and putting them on a path to economic success and independence.”
“This groundbreaking initiative underscores AIC’s dedication to improving the financial well-being of Springfield residents. The project aligns seamlessly with AIC’s values of accessibility and opportunity,” said AIC Interim President Cestero. “This new center, ideally located on the AIC campus in the geographic heart of the city, will serve as a beacon of hope for our community. I would like to extend a special thank you to Congressman Neal for his invaluable support in securing the crucial funding necessary for AIC to launch this endeavor.”
