Financial Education In Schools

Few states make financial education in schools mandatory

NEW YORK (6/26/07)--Despite the growing need for more sophisticated financial skills to cope in a complex global marketplace, there's been little progress in getting personal finance education into the schools (MarketWatch.com June 13).

A recent study by the National Council on Economic Education (NCEE) reveals that financial education curriculum has made headway, but still needs improvement.

Key findings from NCEE's Survey of the States study include:


Only seven states require students to take a personal finance course before they graduate from high school;


Only nine states require testing student personal finance knowledge;


Only 17 states have an economics graduation requirement;
The number of states requiring student knowledge tests in economics dropped to 22 in 2007 from 25 in 2004; and


Entrepreneurship education is significantly less integrated into the curriculum than economics or personal finance.

If you're a parent, grandparent, or simply someone interested in making sure your local high schools have access to personal finance education, encourage teachers to contact the National Endowment for Financial Education (NEFE) at 303-224-3516 for a free copy of its High School Financial Planning Program.

The materials contain concepts put into real-life context without selling financial services or promoting specific institutions and will help increase youth financial literacy. They can be integrated into several existing subjects, such as economics, math, social studies, and consumer and life sciences.

The Credit Union National Association has partnered with NEFE and the Cooperative Extension to produce the materials, and also assists in recruiting and providing volunteers to present in classrooms.

courtesy of www.cuna.org/newsnow