Financial literacy education is lacking in U.S. schools

The Council for Economic Education's 2018 Survey of the States reports there is no progress in financial literacy education in our schools in recent years.

The 2017 Champlain Making the Grade Study shows that more than half of the states received a C or lower in financial literacy education.

U.S. students fall in the middle of the pack among OECD countries for financial literacy, according to the OECD Programme for International Student Assessment (PISA).

 

U.S. Students are struggling under mounds of debt

Many students are ill-prepared to take on student loans and suffering the consequences. Read the Student Loan Serenity Prayer in the New York Times on February 10, 2018.

Student loan debt levels are unprecedented and college graduates are paying a hefty price. Read the 5 Facts about Student Loans as reported by the Pew Research Center on August 24, 2017.

Student loan debt levels reached $1.5 trillion in the first quarter of 2018. 

 

FINANCIAL HABITS OF YOUTH AND YOUNG ADULTS

A Cambridge University study show that by age 7, most financial habits have been formed.

USA Today reports that parents should talk to kids about money at age 12 or younger. 

Millennials struggle with personal finance according to a PWC study on financial habits and attitudes.

Millennials are fin-tech savvy but fall short on financial literacy according to the TIAA Institute and GFLEC.

 

FitMoney in the News

 Fitmoney Board of Directors joins Principal Joe Clarke of the Franklin School and Linda Firth from Lowell Five Bank in North Andover, MA. The Franklin School received a $100 check from Lowell Five Bank as the result of the highest participation rate in a savings program among fourth and fifth graders during the 2017/18 school year.

Fitmoney Board of Directors joins Principal Joe Clarke of the Franklin School and Linda Firth from Lowell Five Bank in North Andover, MA. The Franklin School received a $100 check from Lowell Five Bank as the result of the highest participation rate in a savings program among fourth and fifth graders during the 2017/18 school year.