According to USA today, students who are have to take a financial literacy class in high school are much more likely to be financially responsible in college. But only 17 states require this class in high school, which seems like a wasted opportunity.
Financial literacy is amazingly important, so many of my peers and myself are in insane amounts of debt due to crazy student loans or reckless use of credit cards. I know many adults who don't even have a checking account, most living in poverty ridden rural areas. It is not that they are reckless with their money, they just have never been exposed to the idea of putting money in a bank and saving for the future. I know I grew up knowing that credit cards are dangerous and you only use them once in a while on larger purchases to be paid off. But many view it as free money. Financial literacy wouldn't only enhance the quality of many peoples' lives, but would also make certain academic subjects very real and relevant for students.
Malcolm, Hadley. (Apr 8, 2014). "Financial Literacy Education Has Lasting Impact." USA Today. http://www.usatoday.com/story/money/personalfinance/2014/04/08/financial-literacy-college-students/7296185/.
I agree this class should be mandatory in all 50 states. Credit is so important to all in todays society, it is amazing to see that classes like this would receive any opposition :-(
ReplyDeleteConsidering how deeply in debt students are, and how the cost of college keeps rising, a Financial Literacy class would be a great help.
ReplyDeletehttp://www.npr.org/2014/04/11/301439981/paying-off-student-loans-puts-a-dent-in-wallets-and-the-economy