Current California Jump$tart News & Press Releases

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Chapman University Students Learn Dollars and Sense

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December 30, 2009 - (by Dana Parsons, Los Angeles Times)

Kelsey Steinke thought of herself as a fairly bright college student -- except when it came to managing personal finances.  "I knew very little," she said. "Not much at all."  Compared to some of her peers, however, she was a downright prodigy. "I mean, there are some girls who don't know how to do laundry," she said. "If they can't do their laundry, how can they handle their finances?" 

That less-than-kind reality, coupled with a troubled economy that has frightened both novices and experts, has spurred renewed interest in teaching financial literacy to high school and college-age and younger students.

Administration Officials Promote Enhanced Financial Capability Among America's Youth

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WASHINGTON DC, December 15, 2009 - Embarking on a new partnership between the agencies, U.S. Department of the Treasury Secretary Tim Geithner and Department of Education Secretary Arne Duncan met today with students, educators and community leaders to promote strengthened financial capability among the nation's youth. They outlined the first step in this effort, the National Financial Capability Challenge, a national award program that aims to encourage financial education in schools across the country and recognize high-performing teachers, students, and schools.

Informing this focus on youth are findings from a new national financial capability survey released today that measures financial capability levels among U.S. adults. Commissioned by the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and developed in consultation with Treasury and the President's Advisory Council on Financial Literacy, the survey shows that young adults display much lower financial literacy than older generations. In addition, the findings on financial behaviors highlight the need to ensure that the next generation starts taking steps now to secure their financial futures.

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