Breaking NewsCUTimes.com will be offline for scheduled maintenance Friday Feb. 26 9 PM US EST to Saturday Feb. 27 6 AM EST. We apologize for the inconvenience.

 
X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – While there has been progress on the financial literacy front, a recent National Council on Economic Education (NCEE) report finds that it has been limited. According to the report, 15 states now require students to take an economics course in high school and 26 states require testing on the subject. Seven states, up from four in 2002, have made personal finance a requirement for high school graduation and nine states require testing in personal finance. In addition, the national U.S. average personal savings rate is 1.7%, which is the lowest of any developed nation. The median credit card balance is roughly $6,000 and one out of three American adults have no retirement savings. According to the report, “slow but steady progress continues to be made but the challenge remains to not only integrate economics and personal finance into the core curriculum of grades K-12 but also monitor progress in the teaching of such courses to ensure educators have the tools needed to promote the financial literacy of the nation’s youth.” Last year NCEE received the U.S. Department of Education’s first Excellence in Economic Education grant, using it to further its efforts to expand teacher training in economics, provide materials to school districts; evaluate the impact of economic education to gauge student learning; and conduct best-practices research.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.