Confidence in personal finance education has risen from 9% to 70% over the past decade

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PALO ALTO, Calif., March 10, 2021 /PRNewswire/ — 70% of high school teachers are very confident in teaching personal finance, according to a study released earlier this month by Dr. Melody Harvey of University of Wisconsin-Madison and Dr. Carly Urban of Montana State University. This study demonstrates the significant changes in personal finance teaching and professional development since an earlier 2009 study, which found that only 9% of teachers felt well qualified to teach personal finance (Way & Holden, 2009).

Here are the highlights of the study, which was based on a sample of 504 teachers most likely to teach personal finance if a tenure passes in their state:

  • Significant expansion of personal finance education this study found that 83% of teachers surveyed teach personal finance as a stand-alone course, teach it as part of another course, or have taught it in the past. This compares to 30% in the 2009 study.
  • Dramatic increase in teacher participation in professional development with 54% having participated in professional development in the past year compared to 19% in 2009 (over a three-year period). The researchers note the expansion of free or low-cost professional development opportunities for educators that were virtually non-existent in 2009.
  • Strong commitment from educators to increase access to financial education with 86% agreeing with the importance of all high school students taking a semester-long personal finance course before taking that graduation step.

dr. Carly Urban, Montana State Universitysummarized the findings: “States often cite lack of teacher preparation as a reason for not including personal finance education as a high school graduation requirement. Our research suggests that this is not really a problem. Even teachers with a bachelor’s degree in non-finance related subjects, who may be the ones available to teach the class, are quite confident in their ability to deliver a solid financial education program. . »

dr. Melody Harvey, The University of Wisconsin-Madisonexplained, “Of course, these trends correlate with the overall expansion of financial education in high schools. Few states offer professional development as part of their legislative requirements, or offer it through partnerships between state departments of education, state treasuries, and/or state boards of economic education, yet many professional development programs for teaching personal finance have sprung up independently. , policy makers can at least easily direct their potential personal finance teachers to these programs.

Tim Ranzettaco-founder of Next Gen Personal Finance (NGPF), said: “This research confirms what we see every day in our work at NGPF. March 2020. They are talented, passionate, and eager to do more to achieve Mission 2030, when all students graduate from high school with the financial skills they need to thrive. »

About next-gen personal finance
Next Gen Personal Finance (NGPF) has become the “one-stop-shop” for over 43,000 educators looking for a free, high-quality, and engaging personal finance program to equip students with the skills to thrive in the future. . The NGPF program is broad in reach, with more than 7 in 10 American high school students attending schools where a teacher uses NGPF resources. NGPF supports educators with PD’s most comprehensive suite: Over 7,000 teachers participated in over 120,000 hours of NGPF professional development in 2020. The nonprofit organization has been recognized by Common Sense Education as “Best Website for Teachers to Find Lesson Plans” and “Best business and finance gamesThe NGPF is funded by an endowment so that all academic programs and professional development are provided at no cost.

Contact: Christine You818-744-8491, [email protected]

SOURCE Next Generation Personal Finance

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