I spotted the results of the National Financial Capability Challenge, a test to measure high school student's financial literacy, in this essay penned by Geithner, Jarrett and Duncan in the Huffington Post:
"More than 2,500 teachers and 76,000 students in all 50 states
participated in the voluntary exam, which shows interest is strong. But
the scores were disappointing. The average student is just squeaking by
with 70% correct. Students failed to answer basic questions about
credit cards, car insurance, and compound interest. This shows we have
a lot of work to do."
The essay went on to highlight efforts at one local high school:
"For example, at Stonewall Jackson High School in Manassas, VA, teacher
Terri Carson helps students manage the student-run credit union and
includes a financial literacy boot camp in all her classes. She had
over 100 students take the Challenge. Over half of them scored in the
top 20% nationally; 17 had perfect scores. Those results are
commendable, and Carson is working to replicate them. She is hoping to
work with her school and the Prince William County School District to
make sure that all students demonstrate a basic understanding of
personal finance in order to graduate."
It will be interesting to see a more detailed analysis of the results of the challenge in highlighting the strengths and weaknesses of test participants.
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