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Schools Start to Get Serious About Teaching Financial Literacy

Schools Start to Get Serious About Teaching Financial Literacy

Schools across the country are starting to take financial literacy education seriously, as more and more schools implement innovative measures to prepare their students for financial success.

This fall, for example, the California Credit Union launched its Financial Scholars Program, a program designed to teach high school students across L.A. the importance of being financially literate.

"The California Credit Union Financial Scholars Program is web-based, using the latest in new media technology – including simulations, avatars, gaming, and adaptive-pathing – to bring complex financial concepts to life for today’s digital generation. Through this platform, students in 10 high schools will cover scores of topics in personal finance, allowing them to become more informed, responsible citizens," said eSchoolNews.com.

The program is a 10-unit course that provides students with approximately six hours of learning. It covers everything from credit scores to student loans to taxes and savings so that students participating in the course can truly feel prepared for a successful financial future.

Perhaps most importantly, the program also allows for students to put the course on resumes and career applications, an additional way the program helps students achieve success.

"The platform tracks the progress and score of every student and provides students who successfully complete the course with Certification in Financial Literacy, a valuable mark of distinction on college applications and resumes," the article said.

In Mississippi, districts are starting their students young when it comes to learning financial literacy.

"During the 2014/2015 school year, the Mississippi Council on Economic Education (MCEE) partnered with America Reads – Mississippi (ARM) to deliver a program called Never Too Young: Personal Finance for Young Learners (NTY) to elementary school students in Mississippi," according to MBusiness.com.

The program teaches elementary students the basics of personal finances and economics and is designed to be either a during-the-day course or to be used in afterschool programs.

"The program teaches young students about financial choices, cost‐benefit analysis for purchases, the role of an entrepreneur, and the economics and finances of their individual communities—all with a goal of helping children understand that saving is a good thing for us as individuals and as a nation," the article said.

Indeed, financial literacy in education could very well make its way to becoming a mandatory course offering as legislators across states consider the idea.

Article by Nicole Gorman, Education World Contributor

10/2/2015

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