WAVE 3 Editorial – September 20, 2012: Financial Literacy
By Ken Selvaggi WAVE 3 Vice President and General Manager
Money makes the world go around. Some of us have heard that since we were youngsters. It rings true more today than ever as financial meltdowns in many countries have driven the economic malaise of the past several years.
Yet in America only 14 states require a course in personal finance in high schools and less than half the states require a high school course in economics.
Only 16 states require student testing in economics – three less than three years ago.
Kentucky has no requirements for high school economic courses to be even offered, let alone taken and tested.
Indiana requires an economics course to be both offered and taken and neighboring Ohio and Tennessee are among the 16 states that require passing the tests in order to graduate.
Kentucky should certainly make it a priority as well.
College student surveys revealed that students from states that required financial education classes were more likely to save money and less likely to max out credit cards or be compulsive buyers.
Understanding college loans and credit card debt is certainly a good foundation for creating opportunities for students and their communities.