This week, while the media has been schooling us on the student loan implosion and interest rates possibly doubling unless Congress takes action, Roger W. Ferguson Jr. and Debra W. Stewart ?published an opinion piece at Politico addressing an issue at the core of BetterInvesting?s curriculum ? financial education.
Ferguson is president and CEO of TIAA-CREF, a financial services organization, and a former vice chairman of the U.S. Federal Reserve; Stewart is president of the Council of Graduate Schools.
In Politico, they?re calling for a nationwide policy to teach students money management skills, beginning at the K-12 years.
?A comprehensive national action plan is needed, and it must provide students with the knowledge and tools they need to fully understand their student loans and better manage their overall personal finances,? the column says. ?Helping students and families take advantage of available financial aid options and teaching money management skills will reduce the amount that students need to borrow and help them to manage any debt they may incur.?
The writers conclude: ?Working together, educational institutions, policymakers and businesses can help build a nation of financially literate Americans who are not only well-prepared for their chosen careers, but also secure in the skills they need to lead financially healthy lives. A dedication to financial education will help ensure that our nation has the highly educated professionals who can lead the way to future prosperity.?
As a nonprofit, BetterInvesting has been deeply involved in financial education programs for more than 60 years, with the help of our volunteers nationwide.
For example:
- Charles K. Barker of Indianapolis, president of BetterInvesting?s Central Indiana Chapter, chairs a financial literacy program sponsored by the organization 100 Black Men of Indianapolis. Charles mentors high school students through the education program.
- ?A member of The Standard and Rich Investment Club, a BetterInvesting affiliate located in the suburbs of Cleveland, developed a stock market curriculum that was approved by the National Endowment for Financial Education used in classrooms in a local school district.
- ?Our longtime volunteer Bill Wilson, a professor at the University of Texas at Arlington, used BetterInvesting tools to teach his students how to analyze stocks.
BetterInvesting?s focus is teaching members how to succeed in the stock market, by analyzing how best to use their money and planning for the future. Members grow their wealth either individually or through clubs, and by doing so they reach for financial security.
BetterInvesting members tell us again and again that they use the skills they?ve learned to teach financial literacy to their children and grandchildren. And that?s as good as gold.
About BetterInvesting
BetterInvesting is a national nonprofit organization that has been empowering individual investors since 1951. Founded in Detroit, the association (formerly known as National Association of Investors Corporation) was born out of the conviction that anyone can become a successful long-term investor by following commonsense investing practices. BetterInvesting has helped more than 5 million people become better, more informed investors by providing webinars, in-person events, easy-to-use online tools for analyzing stocks and mutual funds, a monthly magazine and a community of volunteers and like-minded investors. For more information about BetterInvesting, visit its website at?http://www.betterinvesting.org/investing/landing/openhouse/blog/index.html or call toll free (877) 275-6242.
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Source: http://blog.betterinvesting.org/investing/students-drowning-in-debt-an-opportunity-for-education/
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