Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
FRM 1-7 6/2012 Abstract Status of Personal Finance Education in Schools Prepared by: Eileen St. Pierre, Ph.D., CFA, CFP® Personal Finance Specialist Oklahoma State University 233 Human Environmental Sciences Stillwater, OK 74078 (405) 744-8072 [email protected] Hill, A. T., & Meszaros, B. T. (2012). Status of K-12 Personal Financial Education in the United States. Journal of Consumer Education, 28, 1-15. IMPLICATIONS FOR EXTENSION: There is a significant need for Extension to support teachers in the implementation of personal financial education standards by assisting in the development and delivery of personal finance programming in schools. This partnership can help address the obstacles identified in this survey that teachers face. Extension educators can also help develop more qualified personal finance teachers by guiding them towards professional development opportunities. The purpose of this research is to determine the extent to which personal finance education is being implemented in U.S. public schools and the factors affecting K-12 personal finance education. Hill and Meszaros conducted a 22question online survey in 2010 of leaders of state councils on economic education, state Jump$tart Coalition affiliates, and managers of economic education at Federal Reserve Banks. These groups were chosen because they represented the majority of leadership in K-12 personal finance education at the state level. In total, 114 surveys were completed. Survey Results 46 states currently have stand-alone personal finance standards (Oklahoma) or these standards are integrated into other courses. Oklahoma does not require standards be taught as a stand-alone course or students to be formally tested. There is a recommended statewide curriculum. Nationally, very little personal finance is taught in grades K-8. In high school, participants felt Family & Consumer Sciences courses provided the greatest coverage of personal finance. Obstacles Identified Lack of highly-qualified teachers Insufficient classroom time Lack of time to evaluate curriculum options Lack of funding for materials, training, and teachers’ salaries Lack of support from school administrators Unwillingness on the part of teachers to teach personal finance Focus on high stakes testing in core curriculum areas Survey respondents also indicated that while parents strongly supported personal finance education, school administrators were more likely to dismiss parents. The authors feel this may reflect the fact that incentives for administrators to support personal finance education are weak and that these officials have higher priorities.