Date Filter: 2015/09/

NGPF Podcast: Tim Talks To Mark Kantrowitz, Financial Aid Guru

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Sep 30, 2015
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Paying for College, Current Events, Teaching Strategies, Student Loans, Policy, Podcasts
Thanks to Mark Kantrowitz, Senior Vice President and Publisher at Edvisors.com, for sharing his wisdom with our community of personal finance educators in this NGPF podcast. Talk about popular…Mark has been quoted over 5,000 times in the past five years.  If you see an article about paying for college, there is a 99% probability that you will be reading Mark’s insightful analysis.  We were lucky enough to have him on our show where he answered such questions as: What is the value...

Question: How Many People Fell Victim to Identity Theft in 2014?

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Sep 28, 2015
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Question of the Day, Research, Identity Theft, Current Events
From Bureau of Justice Statistics: 17.6 million people (about 7% of the population). Here’s a bar chart showing differences between 2012-2014: As Consumer Affairs noted in their summary of the data there was good news and bad news: The report also contains some good news and bad news. The good news is 85% of people surveyed took action in 2014 to prevent identity theft, such as checking credit reports, shredding documents with personal information, and changing passwords on financial...

Question: What Metro Area Has the Highest Average Credit Score?

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Sep 28, 2015
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Credit Scores, Question of the Day, Research, Current Events
Answer (from NerdWallet, where you can also find top 200 metro areas listed): Mankato, MN with an average score of 716. In case you were wondering, here are the top 10 markets (those responsible Midwesterners seem to have a lock on the top spots):): ...

Question: Which Would You Rather Have Stolen: Debit or Credit Card?

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Sep 28, 2015
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Question of the Day, Credit Cards, Identity Theft, Debit Cards, Article
A bit of an extreme question, yes, but nothing focuses the mind like theft. Actually, this personal finance blogger highlighted the differences between having your credit card and debit cards compromised and the strategies she took after having her account hacked…for the fourth time.  Here is her story of her debit card fraud: I opened my banking app to deposit a check, and a jolt went through my system. My checking account had suddenly dropped by $600. I scrambled to check recent...

Video Resource: Where Is The Student Loan Crisis Happening?

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Sep 28, 2015
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Paying for College, Research, Student Loans, Current Events, Video Resource, Math
From Brookings: If you are looking for an extension activity, have your students dive deeper and read the introduction (first 5 pages) of this research report to understand more details about where the student loan crisis is having the biggest impact.  This should pique their interest: Between 2000 and 2014, the total volume of outstanding federal student debt nearly quadrupled to surpass $1.1 trillion, the number of student loan borrowers more than doubled to 42 million, and default rates...

Activity Idea: Create A Money Minute Video

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Sep 28, 2015
I can’t take credit for this one…I came across this news release announcing winners in the Money Minute Video Challenge. The premise of the contest was to have financial experts create a one minute video about money with the criteria being: most creative video, most creative tip and most impactful advice.  The prize: $1,000. Here were a few videos that can get your students’ creative juices flowing: Don’t Touch Your Savings: Building a Rainy Day Fund Stay a Month...

Next Gen Personal Finance Has.....Case Studies!

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Sep 24, 2015
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Paying for College, Budgeting, Credit Cards, Personal Finance, Investing, Checking Accounts, New Products, Case Study
If it’s a Thursday in September, it must be another NGPF Product Release. We are excited to introduce NGPF Case Studies, which provides you with another tool in your tool box to hone your students’ decision making skills.  To jump right in, click the link above.  For additional support, read on… NGPF Case Studies FAQ What is an NGPF Case Study? Here are the main characteristics of an NGPF Case Study: Puts the student in the center as a decision maker Involves students...

Questions to Get That College Conversation Started...

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Sep 22, 2015
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Paying for College, Student Loans, Article, Parent Conversations
WSJ had an informative article highlighting key questions that parents and children should answer about paying for college. What a great idea for a take-home assignment that encourages this all-so-critical conversation to happen before the college acceptance letters start to roll in this spring. Here were the questions they highlighted with answers provided by leading experts, such as Mark Kantrowitz: What does the student want to get out of college? How much are parents willing to contribute?...

Question: What Factors Are Most Important To Students In Picking A College?

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Sep 22, 2015
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Career, Paying for College, Question of the Day, Research
Good question to ask your students before sharing these survey results.  Good starting point for a classroom discussion. Here are the top 5: Academic reputation (65.4%) Graduates get good jobs (53.4%) Financial assistance (46.9%) Cost of attending (44.9%) Reputation for social activities (you mean, parties?) (42.8%) Here is the complete list as well as the top reasons given for wanting to attend college: Here are some great follow-up questions to ask your students about this resource: Were...

Question: What's Wrong With Just-In-Time Finance Education?

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Sep 22, 2015
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Personal Finance, Financial Literacy, Current Events
I am probably preaching to the choir on this one but an interesting WSJ column from AnnaMaria Lusardi about the shortcomings of a just-in-time approach: But there are problems with the “just in time” concept. For starters, all education—not just financial knowledge—erodes over time. If I were to re-test my undergraduate and graduate students a few months after they finish a course (any course!), the results would deviate from those of their final exams. This hardly means we should...

This Question Should Be Eliminated From All Financial Literacy Surveys

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Sep 22, 2015
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Behavioral Finance, Research
Yes, we have all seen the results from this specific question touted in all forms of marketing collateral for personal finance curricula.  It usually sounds something like this “98% of students who completed our program felt more CONFIDENT about their personal finance skills/knowledge/etc.” Unfortunately, confidence doesn’t always translate in the real world to responsible financial habits and there is a recent AICPA survey to prove that: A newly released survey from the...

This Is an Encouraging Trend...Employers Repaying Student Debt

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Sep 22, 2015
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Career, Student Loans, Current Events
From Washington Post: Pricewaterhouse Coopers, the global consulting and accounting firm, announced Tuesday it will begin helping its junior employees pay down their student loans next year. Starting next July, all of PwC’s associates and senior associates—roughly 45 percent of the firm’s 46,000 employees, ranging from entry-level to about six years of experience—will become eligible to receive as much as $1,200 a year for up to six years toward their student loans. The...

NGPF Podcast: Tim Talks To Jonathan Clements, Award Winning Author and Columnist

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Sep 22, 2015
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Behavioral Finance, Audio Resource, Current Events, Investing, Personal Finance, Podcasts
Thanks to Jonathan Clements for sharing his wisdom with the personal finance community in this NGPF podcast. Jonathan shares what he learned in the process of penning over 1,000 columns for the Wall Street Journal including the power of storytelling and what makes personal finance so engaging.  As he transitions to the classroom this fall to teach a course at Mercy College in New York, he discusses how he plans to bring his holistic approach to personal finance to the classroom. Invest the...

Next Gen has a PROJECT BANK!

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Sep 16, 2015
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Lesson Idea, Teaching Strategies, New Products, Featured NGPF Lesson, Front Page Spotlight, FAQs
Our September product releases just keep on rolling with our latest feature — the Next Gen Personal Finance Project Bank! This is a convenient way to spice up your personal finance curriculum with some engaging, in-depth work for your students. To jump right in, click the link above. For a little more support, here are… Project Bank FAQs 1. You already have an Activity Bank. How is this different? Here’s how I think of it: Activities allow students to...

Check Out Our New Blog Site!

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Sep 15, 2015
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Personal Finance
Hello NGPF Blog followers, I wanted to let you know that in the future I will no longer be posting new content to the http://www.financiallycapable.org website but instead will be moving to the blog that we host on the NGPF website at http://nextgenpersonalfinance.org/blog/ Please note also that you will have the same search capabilities on this new blog location AND all of the posts from the Financially Capable site have been successfully transferred over.  We had been running parallel blogs...

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