BIDDEFORD — Learning to balance a checkbook, invest in the stock market, and determine whether to buy a house or rent are some of the aspects of personal finance that everyone should know.

Students taking Kenneth Crepeau’s personal finance course at the Biddeford Regional Center of Technology are not only learning financial skills that will benefit them throughout their lives, but also earning college credits at no cost at the same time ”“ a money-wise move.

With financial support from Saco & Biddeford Savings, which is paying the $30 college course fee for each of those enrolled, 30 students are earning credits toward both their high school diploma and for college.

The COT has an agreement with Northern Maine Community College, which is granting each student who earns a satisfactory grade three college credits. The credits are transferable to other colleges.

The course, said Crepeau, teaches students about money management, taxes, saving for the future and even estate planning, among other topics.

“A lot of students don’t know about 401k (retirement plans), why Social Security is taken out of their paychecks, the purpose of property taxes,” he said.

Other than courses like his, said Crepeau, “I don’t know how else you get that information.”

Another topic he teaches students about, he said, is to evaluate their career goals and make sure they don’t assume more college debt than they can reasonably pay back when they enter the workforce.

Hopefully, said Crepeau, students who take the class will learn the financial skills they need to avoid credit card debt and attain their financial goals.

He said he was very appreciative to Saco & Biddeford Savings for paying the $30 college course fee.

Although it’s not a lot of money, said Crepeau, for some, the fee would have made the course cost prohibitive.

“As a bank, we encourage support for financial literacy,” said Saco & Biddeford Savings Vice President of Community Relations Donald Lauzier.

“Every school should have that as part of their curriculum,” he said, adding that the bank paid the fee to make sure all the students who wanted to take the course would be able.

As to whether Saco & Biddeford Savings would continue to support the course in the future, Lauzier said the bank doesn’t make such long-term commitments, but noted that “we support the program, and it’s very likely we would continue to support it at some level.”

— Staff Writer Dina Mendros can be contacted at 282-1535, ext. 324 or [email protected].