Capitol Hill

Financial Empowerment is a Nonpartisan Message

By Congressman Rubén Hinojosa, Representing the 15th District of Texas.

In 2005, former Congresswoman Judy Biggert and I came together to form the Financial and Economic Literacy Caucus. Judy, a Republican, and myself, a Democrat, found common ground when it came to the importance of financial literacy. I am happy to report that Congressman Steve Stivers, Republican of Ohio, is our new co-chair for the Caucus. We will once again sponsor a House Resolution declaring April as Financial Literacy Month, and the annual Financial Literacy Day on Capitol Hill will be held on Friday, April 26 in the Cannon Caucus Room in Washington, D.C.

The message of the Caucus is a nonpartisan one: We need to empower young people with the information they need in order to make healthy financial decisions throughout their lives. A focus on financial literacy makes sense for policymakers from either party; financial empowerment can alleviate poverty and attack inequality, while also providing Americans the tools to be financially independent and self-reliant. This will not only ensure their families’ own financial security, but will contribute to the stability and growth of the entire economy. Read more…

POSTED: April 22, 2013 | BY: Leslie Rasimas | TAGS: , , , , ,

President’s Advisory Council on Financial Capability Launches Financial Literacy Initiative

In the wake of the 2008 financial crisis, government officials, parents, teachers and the general public rallied around the idea that personal finance must be taught to our children so they don’t end up in the same dismal situation where we currently find ourselves – owing more than $1 trillion in student loans and $870 billion in credit card debt.

But over the past four years, we haven’t made great improvements in teaching financial life skills to our children. CEE’s latest Survey of the States finds that only 14 states require a high school course in personal finance to be taught, and only 13 of those require the course be taken in order for students to graduate.

On today’s The Take Away radio segment, U.S. Secretary of Education Arne Duncan and Beth Kobliner, author of Get a Financial Life and a member of the President’s Advisory Council on Financial Capability, discussed the Obama administration’s initiative to teach children personal finance skills, starting as young as three years old. CEE contributed curricula and advice on the initiative, including content from the Financial Fitness for Life program.

Secretary Duncan says, “It is in the country’s best interest to be a financially literate workforce.”

CEE couldn’t agree more. For the past 60 years, our mission has been to instill in young people the fourth “R”—a real-world understanding of economics and personal finance. The core work at CEE is in the content and pedagogy of personal finance and economic education for K-12 educators.  Through programs like the personal finance integration project, we implement systematic approaches to bringing personal finance concepts and materials into a diverse range of subjects, including math, social studies, science and English – all subjects that lend to well-rounded and financially literate students.

As Secretary Duncan said this morning, we all have a role to play, but there is no place better to teach these skills than in the schools. Later this year CEE will release the Voluntary National Content Standards in Personal Finance to provide a detailed framework for teaching personal finance in kindergarten through 12th grade.

POSTED: July 17, 2012 | BY: Leslie Rasimas | TAGS: , , , , ,

CEE Report – Summer 2012

download cee report CEE Report   Summer 2012

Three times a year the Council for Economic Education releases the CEE Report, highlighting our new and noteworthy events, programs and partnerships, including pilot programs and joint ventures with key supporters.

“We know that education is everything to our children’s future. We know that they will no longer just compete for good jobs with children from Indiana, but children from India and China and all over the world.”
-  President Barack Obama

Read more…

POSTED: July 9, 2012 | BY: kwilliams | TAGS: , , , , , , , , , ,

CEE Attends the White House Summit on Financial Capability and Empowerment

Last week, the White House hosted a Summit on Financial Capability and Empowerment addressing the gap between our complex financial marketplace and consumers’ knowledge about them—or lack thereof.  Our CEO and President Nan J. Morrison was among the industry leaders invited to attend the conference, at which several important announcements were made.

David Nelms, CEO of Discover Financial Services, announced Chicago Public Schools’ plans to implement a new Financial Literacy Framework at the K-12 level. This initiative is the result of a 4-year partnership with CEE, Discover and other industry partners, created to provide students with the necessary real-world skills to navigate today’s financial landscape. CEE will also provide the curriculum for a 12th-grade personal finance capstone course, funded by a $1 million grant from Discover.

Also of note, the Administration announced its new Financial Capability Toolkit containing key information for K-12 schools, institutions of higher education, employers, and community leaders.  Several of CEE’s resources are highlighted in the guide, including this year’s Survey of the States and our Financial Fitness for Life program.

POSTED: May 15, 2012 | BY: Leslie Rasimas | TAGS: , , , , ,

CEE in the News: Closing the Gap in Economic Education: Financial Literacy Begins in the Classroom

CEE’s President and CEO Nan J. Morrison has new post on Huffington Post Education

“Like most young adults fresh out of college, saving for the future wasn’t my top priority when I landed my first job. Left to my own devices, I can’t say for certain I wouldn’t have spent almost every cent of those paychecks, if not for my father reminding me once a week, every week, to contribute to my 401(k). He never missed a call — and I never missed a payment.

But not everyone is so lucky to have a mentor like I did.”

Read the full blog here.

POSTED: April 30, 2012 | BY: Leslie Rasimas | TAGS: , , , , , ,

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