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August 17, 2006 NDSU Extension Program Continues to Advance Youth Financial Knowledge An overwhelming 92 percent of parents surveyed believe high school students should be required to take a class in practical money management. The National Endowment for Financial Education (NEFE) and the USDA’s Cooperative State Research, Education and Extension Service (CSREES) are working to make this a reality, according to Debra Pankow, North Dakota State University Extension Service family economics specialist. “NEFE and CSREES have extended their partnership to continue to promote financial education among America’s youth,” Pankow says. “With the signing of a new five-year agreement, NEFE and CSREES, the federal partners in the nationwide Cooperative Extension System, begin their 15th year of providing a high school financial planning program to thousands of schools throughout the U.S.” The financial program is a six-unit curriculum that teaches the basics of money management to young people at a time when they are developing habits and attitudes about money that will influence them for the rest of their lives. The program is available at no cost to high school students. Last year, 37 North Dakota educators used the program, reaching more than 1,700 students. In early August, two training sessions for educators were conducted in Minot and statewide by videoconference. Pankow is the state representative for the program. “We are extremely pleased to continue our work with the Cooperative Extension Service to improve the financial well-being of young adults throughout America,” says Ted Beck, NEFE president and chief executive officer. “This relationship is one of the best examples of a successful partnership in the financial services industry.” The Credit Union National Association and America’s Credit Unions, also partner with NEFE and CSREES in the distribution of the program. “A nationwide evaluation of the program completed in 1998, and repeated in 2003, found that the high school financial program is highly effective in improving the personal finance knowledge, behavior and confidence of teens,” Pankow says. “After completing the curriculum, students reported an increase of 60 percent in their knowledge of key areas covered by the program. The evaluation also found that participants better understood financial behaviors and were more confident in making money management decisions compared with their feelings prior to working with the financial program.” The program is undergoing a revision scheduled to be completed in 2007. The updated program will offer a Web-based component containing additional tools, content and learning experiences for students and teachers. For more information, visit www.nefe.org and click on the Education Programs section. The National Endowment for Financial Education is an independent, nonprofit foundation committed to educating Americans about personal finance and empowering them to make positive and sound decisions to reach financial goals. For more information about CSREES’s financial security program, visit www.csrees.usda.gov and click on Economics and Commerce. For more information on the program, contact your local office of the NDSU Extension Service or log onto www.ndcu.org and click on Educator Information to find a credit union professional. ### Source:
Debra Pankow, (701) 231-8593, dpankow@ndsuext.nodak.edu |
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North Dakota State University |
