Higher One has opened the application process for its annual Financial Literacy Counts grant program. The grant program, which supports campus-based financial literacy education programs and initiatives, is open to any accredited, non-profit college or university in the U.S., with an independent review committee comprised of higher-education administrators selecting the recipients.

This year, Higher One has added a category specifically for proposals that support peer-mentoring financial literacy programs on campus. Those interested can apply for the new grant category in addition to applying for grants that support innovative financial literacy programs, activities or initiatives.

Selected institutions will receive grants ranging from $2,000 to $5,000 to support student awareness campaigns, workshops, peer-mentoring programs or online financial literacy tools that provide opportunities for students to increase their personal financial management skills and abilities. During the 2013-14 academic year, Higher One received some 90 applications across 30 states for the grant program, distributing over $50,000 to 16 institutions.

The grant program application follows the recent “Money Matters on Campus” report, which surveyed 65,000 first-year college students on financial attitudes and behaviors. The survey found that campus-based financial literacy education programs should use innovative approaches to address financial literacy issued with students early on in their academic careers.

Universities interested in applying for the financial literacy grant can find the application and additional information here.