A bill passed during Nevada's last legislative session requires Nevada students in public high schools to learn about economics and financial literacy. But a report from the nonprofit, nonpartisan Milken Institute shows many people across the country, young and old, lack the basic knowledge to make smart financial decisions.
Sal Khan, founder of the Khan Academy, said in order to bridge the equity gap around the country, it has partnered with Capital One to offer a free financial education program that is available online.
"Before I even started tutoring my cousins and started Khan Academy, I worked in finance," he said. "I saw the gap that was there, even among folks with professional degrees and college degrees, but we were always looking for a way to resource this and to really get it into the classroom."
Khan added the virtual course allows individuals to learn at their own pace and from wherever they choose. According to the FINRA Foundation, people with higher financial literacy are less likely to have late fees or make only minimum payments on their credit cards.
Kerone Vatel, head of community impact and investment with Capital One, said younger generations across the country are experiencing "angst" when it comes to what she calls "adulting." She added Capital One is excited to join Khan Academy to help people of all ages foster financial wellbeing. Vatel explained there are a lot of things to navigate in today's world, from student debt and credit-card debt to eventually figuring out whether to purchase or rent a home in today's economy.
"So there is a very practical fallout from this," Vatel continued. "We see from research that students who engage in high-quality financial literacy education are twice as likely to save. We know that unexpected things happen in life. Two years ago, I had a major health scare."
The lessons and curriculum, independently developed by Khan Academy, will help people take better control of their finances and let them examine their own spending habits to foster saving over time, Vatel said.
get more stories like this via email
Funding is coming to a program supporting students from low-income families in Washington state who want to go on to college or postsecondary education.
The GEAR UP program has received a 35 million dollar grant from the U.S. Department of Education for the next seven years of operation. GEAR UP stands for Gaining Early Awareness and Readiness for Undergraduate Programs.
Marcie Mills, GEAR UP director for the Washington Student Achievement Council, explained the rationale behind the program.
"When you come from a low-income family or a family that doesn't have that college going experience, navigating that process can be really difficult," Mills observed. "So, the desire is there, the interest is there, but they won't necessarily know or understand the steps that it takes to achieve that."
GEAR UP has been in operation since 1999. It supports students starting in seventh grade through their first year of postsecondary education. The program helps about 6,800 students each year, according to the Washington Student Achievement Council.
Eligible students can receive up to $800 in scholarships. Mills pointed out the program provides a range of services and her office has found which services have the greatest effect.
"We provide college visits, we include family members in that whenever possible, we provide a lot of workshops during the school day," Mills outlined. "We definitely provide financial aid information and counseling to students and families."
Mills noted GEAR UP is focusing on 13 rural school districts with funding to hire staff who work with students and families and the program will provide technical support.
"Our small rural districts really are so under resourced compared to the larger districts, who also have needs," Mills acknowledged. "But in comparison, quite often a rural school might not even have a full-time counselor."
Support for this reporting was provided by Lumina Foundation.
get more stories like this via email
Texas educators spent the summer in meetings and workshops devising a playbook for the upcoming Texas legislative session.
The Educator's Bill of Rights contains 10 issues based on feedback from K-12 and higher education employees.
Alejandro Pena, government affairs specialist for the American Federation of Teachers-Texas, said they are taking their concerns directly to lawmakers.
"Playing defense is not enough because you might prevent bad things from happening," Pena observed. "But things will never get better if positive change is not realized."
The top five issues educators are concerned about include reasonable working conditions, fair wages, secure retirement, quality child care and a healthy, safe and secure working environment.
Security tops of mind following this week's mass shooting at a Georgia high school. In a survey of educators last year gun violence prevention was the top priority among 11 community and social justice issues.
Pena noted House Bill 3, which requires an armed security guard to be on every school campus in the state, is considered by many educators as an unfunded mandate.
"The legislature only provided $15,000 per campus and a measly additional 28 cents per student for school districts to comply with this requirement," Pena pointed out. "Whereas it's been found that the cost of hiring an armed security guard can be anywhere from $80,000 to $100,000."
Last year, the state of Texas had a $33 billion budget surplus but funding for public education did not increase. The next legislative session starts Jan. 14.
Disclosure: The American Federation of Teachers-Texas contributes to our fund for reporting on Education, Livable Wages/Working Families, Mental Health, and Youth Issues. If you would like to help support news in the public interest,
click here.
get more stories like this via email
Latinos make up 40% of California's population and more than 56% of K-12 public school students.
However, Latino high school graduation rates are low, prompting a national effort to encourage parental involvement. The Parent Institute for Quality Education is a nonprofit focused on social justice and equity-based approaches, empowering families to advocate for their children's success in education.
Elizabeth Cabrera, vice president of program and impact for the organization, said forging a strong bond between parents and the school is key.
"Data show that if families are involved, the chances of students graduating from high school going off to college are greater," Cabrera reported. "It needs to be a priority and we need to create action plans around it to make it happen. And it's not a 'nice to have,' it's a must-have to really be able to support the student all around."
As of 2020, 66% of Latinos in California had a high school diploma, compared with 95% of white residents. High school graduation rates and enrollment in higher education among Latino students have improved in recent years.
Cabrera pointed out her group leads workshops for parents around the state.
"We directly work with districts and school leaders to have us come into their schools, work with their families, to train them and teach them about everything from what the education system looks like," Cabrera outlined. "What's at the state level, at the county level, at the local level, and what can you do to get involved and ask the right questions. Also, things like better understanding the different assessments."
The U.S. Department of Education has awarded the group a $5 million grant to establish a statewide Family Engagement Center.
Support for this reporting was provided by Lumina Foundation.
get more stories like this via email