U.S. Education Secretary Is Right – Make Financial Literacy Classes Mandatory

LOS ANGELES–(BUSINESS WIRE)–United States Secretary of Education Miguel Cardona says personal finance lessons should be mandatory in our schools, and he’s being applauded by schools like Learn4Life, which has been teaching financial literacy to its high school students for the past seven years. Currently only 21 states make financial classes mandatory in high schools and only a few more require them to be available as elective courses.

Click to Tweet: US Education @SecCardona says personal finance lessons should be mandatory in our schools, and he is right. Here’s why: #FinancialLiteracyMonth #Learn4LifeSchools #ChangeYourStory

During Financial Literacy Month, it’s important to note that graduates of high schools with financial education are less likely to fall prey to high-cost predatory loans (such as payday loans) than their peers without guaranteed financial education.¹ They are 21 percent less likely to carry a balance on a credit card while in college, and apply for federal aid and subsidized student loans more often.²

Click to Tweet: #DidYouKnow that graduates of high schools with financial education are 21% less likely to carry a balance on a credit card while in college and apply for federal aid and subsidized student loans more often? #FinancialLiteracyMonth #Learn4LifeSchools

“We definitely see the value in teaching financial literacy to all of our students,” said Joseph Scibana, director of career and experiential learning programs…