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The work of the President’s Advisory Council on Financial Capability for Young Americans

April 14 The work of the President’s Advisory Council on Financial Capability for Young AmericansBy Beth Kobliner, Member of the President’s Advisory Council on Financial Capability for Young Americans; Author of the New York Times bestseller Get a Financial Life.

I certainly hope I’m wrong about this one.

But when results from the first PISA international test of financial literacy are released in July, I have a sneaking suspicion that the financial know-how of young Americans will be disappointingly low when stacked up against their peers around the world. But hey: If that turns out to be true, let’s not blame a bunch of 15-year-old kids (they’re the ones who took this Program for International Student Assessment test back in 2012). No, we grown-ups should be pointing the finger right back at ourselves. The fact is we are not adequately preparing our kids for a financial literacy test—or, more importantly, for the real-life tests to come as these young adults make their way in a complex financial world. Thanks to the CEE’s annual Survey of the States, we know that while four additional states now require students to study personal finance, that makes just 17 states total.

We can do better—and we will do better. Read more…

POSTED: April 14, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , ,

Meet the 2014 National Economics Challenge State Finalists

The 2014 National Economics Challenge is off to an exciting start, State Finalists have earned their titles this week. State Economics Challenge winners will advance to the National Semifinals, from which the top 4 scoring teams and their coach, in each division, win an all-expenses paid trip to New York City to compete in the National Finals. 

Check out the photos of the State Finalists here

ADAM SMITH DIVISION (AP, IB and honors students)
Grissom High School, Huntsville, AL
BASIS- Oro Valley, Oro Valley, AZ
Dos Pueblos High School, Goleta, CA
Boulder High School, Boulder, CO
Choate Rosemary Hall, Wallingford, CT
Nova High School, Davie, FL
Marist School, Atlanta, GA
Iolani School, Honolulu, HI
Meridian High School, Meridian, ID
Willowbrook High School, Villa Park, IL
Carmel High School, Carmel, IN
Iowa City West High School, IA
Shawnee Mission Northwest High School, Shawnee, KA
Mt. Hebron High, Ellicott City, MD
Lexington High School, Lexington, MA
International Academy-Okma campus, Bloomfield Hills, MI
St. Thomas Academy, Mendota Heights, MN
Ocean Springs High School, Ocean Springs, MS
St. Joseph Central High School, St. Joseph, MO
Bozeman High School, Bozeman, MT
Millard North, Omaha, NE
Bergen County Academies, Hackensack, NJ
Stuyvesant High School, New York, NY
Chapel Hill High School, Chapel Hil, NC
Fargo South High School, Fargo, ND
Upper Arlington High School, Upper Arlington, OH
Edmond North High School, Edmond, OK
Conestoga High School, Berwyn, PA
Lexington High School, Lexington, SC
McCallie School, Chattanooga, TN
Bellaire High School, Bellaire, TX
Chantilly High School, Chantilly, VA
St. George’s School, Spokane, WA
Brookfield Central High School, Brookfield WI

DAVID RICARDO DIVISION (single semester general economics students)
Spain Park High School, Hoover, AL
Seton Catholic Preparatory, Chandler, AZ
Homestead High School, Cupertino, CA
Monarch High School, Louisville, CO
Royal Palm Beach Community High School, Royal Palm Beach, FL
Starr’s Mill High School, Fayetteville, GA
Iolani School, Honolulu, HI
Grace High School, Grace, ID
Carmel High School, Carmel, IN
Iowa City West High School, Iowa City, IA
Gardner Edgerton High School, Gardner, KA
Mt. Hebron High, Ellicott City, MD
The Groton School, Groton, MA
Novi High School, Novi, MI
Little Falls Community High School, Little Falls, MN
Madison Central High School, Madison, MS
Hannibal Career and Technical Center, Hannibal, MO
Park High School, Livingston, MT
Bellevue East, Bellevue, NE
West-Windsor Plainsboro High School North, Plainsboro, NJ
Hunter College High School, New York, NY
North Carolina School of Science and Mathematics, Durham, NC
Jamestown High School, Jamestown, ND
Gahanna Lincoln High School, Gahanna, OH
Enterprise High School, Enterprise, OR
Souderton Area High School, Souderton, PA
Christian Academy of Myrtle Beach, Myrtle Beach, SC
Memphis University School, Memphis, TN
DeBakey High School, Houston, TX
Dominion High School, Sterling, VA
Tahoma High School, Covington, WA
Deadweight Winners / Germantown High School, Germantown, WI

Congratulations to the State Finalists, good luck in the next round!

POSTED: April 11, 2014 | BY: Morgan Hoey | TAGS:

Life After High School

April 11 214x300 Life After High School

By Jeffrey Lacker, President of the Federal Reserve Bank of Richmond.

What path should a student choose after high school? Apply to college? Join the workforce? Enroll in career or technical training? Median earnings for college graduates are around $50,000 annually, compared to $28,000 for high school graduates, while the unemployment rate for college graduates is 3.4%, nearly half the 6.4% rate that high school graduates currently face. Given the numbers, it might be tempting to conclude that college is the best path for everyone. However, this recommendation takes into account neither the uncertainty lurking behind the reported numbers nor the preferences and constraints of the individual. Read more…

POSTED: April 11, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , ,

Unique Savings to Scholarship Program Helps Prepare Students for Financial Success

April 10 250x300 Unique Savings to Scholarship Program Helps Prepare Students for Financial SuccessBy Eileen Klein, President of the Arizona Board of Regents; Member of the Arizona State Board of Education.

For most students, entering college is not only a time of inauguration to new learning and discovery, but it also marks the advent of new found freedoms and responsibilities, including new levels of financial decision-making.  Yet while students may arrive at college prepared to learn, we know many are ill-equipped to be sound stewards of their financial health.

In Arizona, as we work to increase post secondary education attainment levels, we’re also finding new ways to empower students and families with the tools to help support strong financial planning and decision making.

Read more…

POSTED: April 10, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , ,

CEE In The News: Teaching Financial Literacy to Middle Schoolers

In this article from Edutopia, Brian Page, high school personal finance & economics teacher and CEE Teacher Advisory Chair, highlights resources to help teachers impart  financial literacy lessons to middle school students. 

CEE’s Gen i Revolution game is one featured resource. Page explains it is an opportunity for students to collaborate and think critically to make financial decisions, mirroring skills they will need to master in adult life.   

POSTED: April 9, 2014 | BY: Morgan Hoey | TAGS: , , ,

Increasing Financial Literacy to Address the Student Loan Debt Crisis

April 9 150x150 Increasing Financial Literacy to Address the Student Loan Debt Crisis

By: United States Senator Jack Reed (D-RI)

April is an exciting time for high school seniors. Graduation is just around the corner and college acceptance letters are rolling in, and with them an overwhelming sense of possibility and anticipation for students, along with a measure of joy and worry for parents.

Getting into college is an admirable achievement, but paying for college is a long-term commitment.

Indeed, according to the Project on Student Debt, 71% of college seniors who graduated last year had some form of student loans to pay back, with an average of $29,400 per borrower. Read more…

POSTED: April 9, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , , ,

Resources

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