A Weekly Round-Up: Schools in The News
- We, Next Gen Personal Finance, announced the winners of their scholarship contest; 18 teachers will be heading to the Jump$tart National Educator Conference in Dallas in early November.
- Jennifer Jordan of Abilene High School (Abilene, TX) received a grant to start a personal finance program at her school (BigCountry):
It is hard for some students to really take in what they learn from their high school economics class. Although it may not seem that fun learning about how to balance a checkbook while sitting in a high school desk, the information told by your teach is very important.
Some agree that the information the 17 and 18-year-old’s learn from their economics teacher may be a little too advanced, but a teacher from Abilene High School decided to make a change to that.
After Jennifer Jordan received her grant of almost $800, she knew exactly what she wanted to spend her money on. With technology constantly changing, updating textbooks seems to be more difficult, so Jordan found an alternative to helping her students stay on track.
- Dee-1, whose rap about paying off his student loans went viral, is visiting high schools to discuss financial matters (Washington Post)
In recent weeks, the rapper has visited Cardinal Hayes High School in the Bronx, and is heading out across the country to talk to other students about navigating higher-education costs and making sound financial decisions. He said he’s been advising students to know what they want out of college before entering, familiarize themselves with the financial resources available and have a plan for repaying debt if they borrow.
- As if we needed to be reminded, young people are not receiving critical life skills in high school and college (USA Today sponsored story):
Just 31% of the respondents said their high school education did a good job teaching them how to establish good financial habits; fewer than half of the respondents who attended college said their education did a good job when it came to money matters.
- North of the border, one Canadian province (Quebec) is planning to introduce a mandatory course (CBC News):
Quebec’s education minister wants to make sure students graduate from high school with a grasp of how to manage their personal finances. Sébastien Proulx plans to introduce a mandatory economics course starting in September 2017. The course will focus on financial literacy, addressing issues such as credit scores, loans, making a budget and signing a cell phone contract, Proulx said. “We need to make sure our youth have access to a financial education,” he said.
- State of Washington has adopted financial literacy standards (Seattle Times):
Along with spending and saving, the standards cover five other topics: credit and debt, employment and income, investing, risk management and insurance, and financial decision-making. The standards will be integrated into classroom activities, likely in math or social studies classes, said Nate Olson, spokesman for the state superintendent’s office. In the second grade, for example, students will compare different types of savings methods, like piggy banks or banks, based on risk of loss. By the 12th grade, students will develop a personal financial plan or budget with goals, net worth statement and estate plan. A planning group is still figuring out how schools will put the new financial standards into practice, Olson said.
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
To get access to NGPF answer keys, assessments, and teacher-only resources: create a FREE Teacher Account