Visa and the Council for Economic Education partnered to launch FinEd50, a nationwide coalition of nonprofits, community leaders, and corporate partners dedicated to improving access to quality financial education for students in the United States.
“The state of financial education offered to students in the U.S. varies significantly. Where students live should not impact whether they have access to knowledge that will help them learn how to make informed financial decisions in their lives,” said Worku Gachou, head of North America, inclusive impact & sustainability, at Visa. “Visa is proud to be a cofounding partner of FinEd50 and we welcome all who are passionate about ensuring young people have access to financial education to join us.”
According to CEE’s 2022 Survey of the States, only 27 states require schools to offer a personal finance course and the quality of courses varies wildly. While there has been some progress over the last decade, many young people in financially disadvantaged communities remain without access to a personal finance class. Delivering financial education through digital channels and in classroom settings can help children understand how to budget and build wealth, which can lead to more economically prosperous lives.
“America is failing our children when we don’t provide them with opportunities to study critical economic and personal finance concepts before they leave high school for college, for jobs and for their futures,” said Nan J. Morrison, CEE president and chief executive officer. “While we’re encouraged by some progress in our latest Survey, all young people across the country need more and deserve better.”
The FinEd50 coalition will be dedicated to achieving:
- State-level action that guarantees equitable access to a personal finance course for every student.
- Curriculum that meets the National Standards for Personal Financial Education and is culturally relevant to students’ lives.
- Providing teachers with access to professional development through innovative funding mechanisms.
- A measurement mechanism to track access and ensure equitable reach.
This new coalition builds on Visa’s more than 30-year commitment to developing innovative, free, and easily accessible financial education resources for businesses, individuals, and communities. Learn more about Visa’s commitment to financial education here.
For more information on FinEd50, please visit: www.FinEd50.com
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