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 Consumer Affairs and Business Regulation, said in a statement. “It’s important that young people learn the skills they need early in their lives to be financially responsible.”

This is the seventh installment of awards through the Financial Education Innovation Fund, which was established as an ongoing effort to strengthen financial literacy. To date, the Massachusetts DOB has committed over $500,000 in funding for this program.

“The Division of Banks is proud to once again fund these grants in support of high school financial reality fairs across the Commonwealth,” Merrily S. Gerrish, acting commissioner of the DOB, said in a statement. “Learning skills such as budgeting and money management is essential for students as they enter college or the work force.”

See all of the award winners here.