CEE’s Nan J. Morrison quoted in USA Today’s Millennials struggle with financial literacy by Hadley Malcom
Though young people in America have for decades struggled with financial literacy, state curricula haven’t shifted much to address the gaps. Fewer than half of states make high school students take an economics class, and just 13 require a personal finance class, according to a 2011 survey by the Council for Economic Education. In those 13 states, though, the payoff is clear: Students who had taken such courses were more likely to go on to save money and pay off a credit card bill in full each month, and less likely to be compulsive buyers, max out credit cards and make late payments.
The programs could prove vital to educating the next generations of workers. As Council for Economic Education President Nan Morrison says, “A financially illiterate society is not an option.”
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