The National Standards in K-12 Personal Finance Education, developed by the Jump$tart Coalition for Personal Financial Literacy with educational and financial services expert, lay out the kind of knowledge and skills students should have, both by subject matter and grade.
The standards were originally created in 1998 and updated in 2002, and include benchmarks for 4th, 8th and 12th grades. They can be used to create lesson plans and course outlines, evaluate educational materials and develop educational requirements.
The standards will be distributed through the Federal Consumer Information Center in Pueblo, Colo., which makes an array of government information and services available to the public via the Web, email, print or telephone.
Distribution comes following a recent Jump$tart survey that found less than half of high school seniors surveyed knew that the three major credit reporting agencies must provide consumers with a free copy of their credit report each year. College students did better, at nearly 75 percent, but officials still cited the study as evidence of a lack of knowledge.
The survey has been conducted annually since 1997 by Lewis Mandell, a University at Buffalo professor of finance and managerial economics, who is currently a visiting professor at the University of Washington and a senior fellow at the Aspen Institute. His analysis of the study will be published in a book early next year.
jepstein@buffnews.com
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