Helping Students Learn the (Financial) Facts of Life

From OSPI:
State Superintendent Randy Dorn will preside today over a ceremonial adoption of the standards – the first of their kind in Washington. The ceremony was sponsored by the Financial Education Public-Private Partnership, which was tasked by the state Legislature to write the standards.


Dorn has championed financial education since he took office in 2009. “Our financial crisis in 2008 and 2009 might not have hit the country as hard if more of us really understood what banks were doing with home loans,” he said. “Students need to understand financial terms. They need to know what interest is, how to calculate taxes, when to begin investing. Giving them those tools may help us avert the next financial crisis.”


The standards – based on national standards from the Jump$tart Coalition and the Council for Economic Education – are divided into six groups of related topics:
  1. Spending and Saving. Students will apply strategies to monitor income and expenses, plan for spending, and save for future goals.
  2. Credit and Debt. Students will develop strategies to control and manage credit and debt.
  3. Employment and Income. Students will use a career plan to develop personal income potential.
  4. Investing. Students will implement a diversified investment strategy that is compatible with personal financial goals.
  5. Risk Management and Insurance. Students will apply appropriate and cost-effective risk management strategies.
  6. Financial Decision-Making. Students will apply reliable information and systematic decision-making to personal financial decisions.
Implementation of the standards will begin immediately. Typically, testing on new standards occurs five years after adoption. The full implementation plan for the standards will be available soon.

About the Financial Education Public-Private Partnership

In 2004, the state Legislature established the Financial Literacy Public-Private Partnership. Three years later, the fourth state learning goal was changed to include “finance.” TFLPPP was recommissioned in 2009 as the Financial Education Public-Private Partnership (FEPPP).

The 2015 state Legislature passed Substitute Senate Bill 5202, which required the FEPPP, with OSPI, “to integrate financial education skills and content knowledge into the state learning standards.”

Comments

Anonymous said…
Another unfunded mandate? Don't see any curriculum going along with this. Don't see any funding going along with it. Don't see this fitting into already overcrowded schedules that are tight due to lame standardized testing.

CT
10/1/16, 12:44 PM
Melissa Westbrook said…
CT, and there's the rub (also with civics.) I think civics and financial education are very important but don't just say that and then ask districts to figure it out.
10/1/16, 1:41 PM
Joseph Rockne said…
The fact that they don't fund either is a lesson in both.
10/1/16, 6:18 PM
big bang reviews said…
The ceremony was sponsored by the money Education Public-Private Partnership that was tasked by the state law-makers to jot down the standards. Dorn has championed money education since he took workplace in 2009. Implementation of the standards can begin at once. Typically, testing on new standards happens 5 years when adoption. The total implementation set up for the standards are out there before long.
11/1/16, 8:55 PM
Post a Comment

Popular posts from this blog

Tuesday Open Thread

The speaker list is up for the Board meeting tomorrow; not as packed as I thought with just four people on the waitlist. The majority of the speakers are speaking on high school boundaries (with several wanting to talk about Ballard High). There are only three of us speaking about the Green Dot resolution asking the City to not grant the zoning departures that Green Dot has requested.  It's me, long-time watchdog, Chris Jackins, and the head of the Washington State Charter Schools Association, Patrick D'Amelio.  (I knew Mr. D'Amelio when he headed the Alliance for Education and Big Brothers and Big Sisters; he's a stand-up guy.)
Read more

Breaking It Down: Where the District Might Close Schools

Update 2: an absolutely fabulous interactive map made by parent Beth Day (@thebethocracy on Twitter - she covers Board meetings and is fun to read).   end of update    Update 1: Mea culpa, I did indeed get Decatur and Thornton Creek mixed up. Thanks to all for the correction. end of update   I suspect some who read this post will be irate. Why do this? Because the district seems very hellbent on this effort with no oversight skid marks from the Board.    To clearly state - I do not believe that closing 20 schools is a good idea. I think they hit on 20 because they thought it might bring in the most savings. But the jury is still out on the savings because the district has not shown its work nor its data. I suspect closing schools and THEN leasing/renting them is the big plan but that means the district really has to keep the buildings up.   But this district, with its happy talk about "well-resourced schools" is NOT acknowledging the pain and yes, grief, that is to come fro
Read more

MEETING CANCELED - Hey Kids, A Meeting with Three(!) Seattle Schools Board Directors

 Update 2: So I have seen a message from President Liza Rankin on why she, Director Evan Briggs, and Director Michelle Sarju backed out of this meeting.  In a nutshell: - She says there was no organization to the meeting which is just not true. They had a moderator lined up and naturally the board members could have set parameters for what to discuss, length of meeting, etc. All that was fleshed out. - She also claimed that if the meeting was PTA sponsored, they needed to have liability insurance to use the school space. Hello? PTAs use school space all the time and know they have to have this insurance.  - She seems to be worried about the Open Public Meetings law. Look, if she has a meeting in a school building on a non-personnel topic, it should be an open meeting. It appears that Rankin is trying, over and over, to narrow the window of access that parents have to Board members. She even says in her message - "...with decisions made in public." Hmmm - She also says that th
Read more