According to the American Public Education Foundation’s Nation’s Report Card on Financial Literacy, Pennsylvania’s current financial literacy grade is a “C”. Thirty-two other states received a grade of “C” or lower. The Foundation states that if Pennsylvania requires a stand-alone personal finance course for high school graduation and adopts grade specific K-12 academic standards, its grade will rise to an “A”.
Auditor General Timothy L. DeFoor today joined officials from Eastern Lancaster County School District and state representatives to highlight how financial literacy can be integrated into educational curriculum for all Pennsylvania students.
Jill Hackman, CRL! committee co-chair and Career Coordinator at Garden Spot HS shared how Garden Spot prepares learners for future success through various career programs including career coaching, internship, and co-op programs:
Financial literacy has been integrated throughout our co-op program in an effort to help our learners best take advantage of the financial benefits that their work experiences are providing to them. By building on the experiences all learners have in our seminar 9 and 10 classes, our learners are leaving high school with knowledge and understanding that many adults may not have until they are well into their first jobs after high school or college.
Additionally, our co-op learners are required to take the co-op class which has a focus on workplace and financial literacy skills. The learners in this program are introduced to retirement savings and the impact of compound interest. They learn about rental agreements and mortgages, including payments and interest rates. They explore banking services, budgeting, and credit history and scores. They understand the positives and drawbacks of credit cards. These are just a few of the many financial literacy skills that our co-op students gain and immediately apply to their jobs and present life experiences.
I am proud to work at a district that values financial literacy and career readiness skills while also maintaining high academic achievement. Thank you to Dr. Snopkowski, Dr. Larkin, Dr. Sanger, and the ELANCO School Board for making career development programs and financial literacy a priority.