More than three in four U.S. adults believe that financial education should be part of the “core curriculum” taught in high school, according to a new survey by the National Endowment for Financial Education. The survey also found that many adults believe their quality of life would have been better had such subjects been offered in school.
Respondents were asked which subjects should be part of a high school core curriculum to set students up for success. Seventy-six percent said economic/personal financial education, followed by mathematics (75%), English/language arts (73%), social studies (64%), science (63%) and computer science/digital literacy (58%).
Among respondents who did not have the opportunity to take a personal finance course in school, 70% believe their financial lives would have been better if they had. Eight-six percent of respondents who reported taking a full semester personal finance course or training said they considered it “somewhat” (22%) or “very” (64%) valuable. Only 76% of those who took a few weeks or took several lessons, and 71% who took a single workshop or class, responded similarly.
There are currently 30 states with existing or pending laws requiring financial education in school, although the requirements vary from state to state, according to NEFE.
The ABA Foundation offers several financial education programs and resources for bankers to use in their communities.
