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Financial literacy is important. In Chicago, the public school system feels perhaps 86 percent of students, from low-income homes, might see their parents turning to expensive payday loans or currency exchanges for help.
Chicago Schools CEO Ron Huberman is touting a “personal finance” class to help more than 900 students learn how to budget for college, do taxes, and make money work for them.
Rosalind Rossi, in a Chicago Sun-Times piece, tells us that the eight-unit course began as a pilot program this semester in 12 CPS high schools. Classes cover budgeting, wise spending, insurance, business models, and the “marketplace.”
Students visit both a four-year college and a city college — and their financial aid offices — as part of a segment on paying for college.
The project is funded by the JP Morgan Chase Foundation and the Chicago Mercantile Exchange Group Foundation. Students are required to create and track a measurable, attainable financial goal.
Kids expecially seem to enjoy a stock market game: they invest an imaginary $1000 in stocks, bonds and mutual funds.
Student Channing Moffith-Mixon, a senior, says it’s not boring. “With the economy declining, it’s important we learn to manage our money.”
Teacher Tim Ogden, who is a personal finance instructor at Dunbar High School, says students are definitely interested and attentive.
Ron Huberman would like to expand this social studies option to more schools.
source: Rosalind Rossi piece at http://www.suntimes.com/news/education/2182228,CST-NWS-money21.article
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