Treasury Secretary Tim Geithner and ED Secretary Arne Duncan met with students, educators, and community leaders to announce the first step in an effort to promote stronger financial capability among U.S. students: the National Financial Capability Challenge.
This non-monetary awards program challenges students to take control of their financial future by learning more about personal finance. It challenges teachers and schools to incorporate personal finance topics into instruction. Teachers who sign up to participate will receive a “teachers’ toolkit” to help.
In March, students will take a voluntary online exam to demonstrate what they’ve learned, assess their financial knowledge, and learn more about why financial capability is important. Top scoring students from each school will receive awards in April, and outstanding schools and educators will be recognized.
“The reality is that all children don’t know the basics of saving and investing,” Secretary Duncan said. “It’s a skill they need to be successful in our economy. The initiative we’re announcing today with the Department of Treasury is a step in the right direction.”
Find out more about the announcement and the National Financial Capability Challenge.