Essay on Financial Literacy And Its Impact On The Ohio Education System

Essay on Financial Literacy And Its Impact On The Ohio Education System

Length: 1255 words (3.6 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

With the many changes to the Ohio education system that have taken place recently it is astounding financial literacy has not been better addressed. The current graduation requirement for financial literacy, according to the Ohio Department of Education (2015), is to implement financial literacy into a social studies or economics class. However, this is not enough for students to gain a true understanding of finances. High school students collectively handle immense amounts of money. One study done by Interactive Youth Pulse stated that teenagers spend ninety-four billion annually (as cited by National Association of State Boards of Education, 2008, p. 16). There is a clear need for financial understanding to be of primary importance for high school students. Currently though, it is not of this essential importance. To resolve this I recommend that the Ohio Department of Education proposes a bill to Governor Kasich that will bring into effect a separate financial management class to be required for graduation.
In order to explain why financial literacy is needed to it should first be explained what exactly financial literacy is. Financial literacy is defined by Lois Vitt (2000) for the Institute for Socio-Financial Studies as:
The ability to read, analyze, manage, and communicate about the personal financial conditions that affect material well-being. It includes the ability to discern financial choices, discuss money and financial uses without (or despite) discomfort, plan for the future, and respond competently to life events that affect everyday financial decisions. (p. 12)
The present requirements for financial literacy in Ohio will not enable students to have this understanding. Instead, they might have a vague notion of...


... middle of paper ...


...tunity to take this same class. Financial Management I taught me more than I could have ever learned in a class dedicated predominantly to Social Studies.
In conclusion, it is evident that there is a great need for financial education in our high schools. It is also apparent that Ohio’s existing standards to meet the financial literacy requirement, though an improvement, will not be enough to satisfy this need. If we can help high school students make the transition into college and adulthood any easier, we should. The ODE has come so close to meeting these financial literacy essentials; they simply need to go one step further in order to ensure that all the students of Ohio are prepared for each financial possibility. I appeal to the Ohio Department of Education, as well as Governor Kasich to see this necessity, and act upon it in the manner I have advocated for.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Using Financial Education to Improve the Foreclosure Situation in America

- Foreclosures have been rising in our country since long before the economic downturn we now face. According to Enterprise Community Partners Inc., a non-profit devoted towards creating opportunities for low-income families to achieve homeownership, “The rate of personal bankruptcy in the United States rose by 69 percent from 1990 to 2000. ” Foreclosures are not something that Americans can properly navigate without knowledge. Studies show that it is without this knowledge that many individuals find themselves in dire economic conditions....   [tags: foreclosure, economy, financial]

Better Essays
1232 words (3.5 pages)

Why The Need For Financial Literacy Comprehension Is Still Not Being Addressed

- Why the Need for Financial Literacy Comprehension is Still Not Being Addressed With the many changes to the Ohio education system that have take place recently it is astounding financial literacy has not been better addressed. The current graduation requirement for financial literacy, according to the Ohio Department of Education (2015), is to implement financial literacy into a social studies or economics class. However, this is not enough for students to gain a true understanding of finances. High school students collectively handle immense amounts of money....   [tags: High school, Education]

Better Essays
1240 words (3.5 pages)

Public Ownership Of The Education System Essay

- Whether the education system should be under public or private ownership has been a conversation piece across the world. This is particularly significant with the growing value of education in a country’s progress economically, socially, politically as well as its overall well-being. In my opinion, the education system should function as a public entity for the best interests of the nation’s future since private ownership takes a profitability approach which may compromise the quality of this social service....   [tags: Education, Teacher, College, Higher education]

Better Essays
1015 words (2.9 pages)

Graduation Speech On The Education System

- In my twenty-plus years as an educator, I have seen many changes in our educational system. I have witnessed the explosion of technology in instruction and the change to more rigorous, student-centered teaching. However, the biggest change I have witnessed has been in the families of my students. Not only has the family structure changed, but the diversity of the families I serve has changed, as well. Many of the students on our campus are now coming from limited English speaking or economically disadvantaged homes....   [tags: Education, School, Teacher]

Better Essays
1090 words (3.1 pages)

The California State Public Education System Essay

- The California State Public Education System “All who have meditated on the art of governing mankind have been convinced that the fate of empires depends on the education of youth.” -Aristotle-      It has been said many times that children are our future. That is a scary thought considering our lack of investment as a people in that future, for without a solid base of education now the bright future we hope for may never come to fruition. This Paper will look at the current state of the Public Education System of the Sate of California....   [tags: Education Educating School System Essays]

Better Essays
2510 words (7.2 pages)

America 's Financial Aid System Essays

- America 's financial-aid system provides too much taxpayer support to banks that make college loans, asks too little of students who assume them, and burdens families with too much debt. We need to rethink the system in order to improve college access and affordability. Federal higher-education policy largely fails to reward rigorous college-preparatory work in high school. It penalizes students who hold jobs while in college. Lenders make extraordinary profits, while young people leave college burdened with debt and, more often than not, without the degree or skills necessary to repay it....   [tags: Higher education, College, High school, Debt]

Better Essays
1440 words (4.1 pages)

Literacy, Remediation, And Assessment Within The Us Higher Educational System

- In the chapter Developmental Education, the authors Cohen, Brawer, and Kisker (2014) explore literacy, remediation, and assessment within in the US higher educational system. I found the statistics shocking that showed those students from low income household scored an average of about 100 points lower then their peers with incomes greater then 100,000 (2014, p. 239). I was aware that there was a difference but I don’t think I realized just how much so. In addition, the discussion about the decline in literacy stood out to me....   [tags: Education, Higher education, College]

Better Essays
821 words (2.3 pages)

How important is Education to the Economy and Where Are the Funds for Education Going?

- Even in this time of struggle, with billions of dollars going towards various war efforts overseas, America still has managed to keep taxpayer investments in education higher than that of funds for national defense (U.S Department of Education). In the 2004-05 school year, there was an estimated amount of 536 billion dollars set aside from taxpayer investment for education purposes. Without a doubt, education is a priority for the American government, and if these funds are used in the correct way, there is no reason why each and every kid in the United States shouldn’t be getting a quality education....   [tags: organization of the financial system]

Better Essays
1844 words (5.3 pages)

Adult Education And Its Effects On Consumer Behavior, Investment Education Programs

- It is true, and as the authors clearly state, we live in times of economic uncertainty. The background relates to a world debt crisis coupled with high unemployment rates as a communal concern, this calls for FLE, Financial Literacy Education, more so for all adult learners in a system that grows in complexity. Previous studies inform about adult education and FLE efforts. Existing studies explore issues in FLE and the effects of FLE on consumer behavior, investment education programs and goals, and FLE effects on the community and in the workplace....   [tags: Education, Teacher, Pedagogy, Psychology]

Better Essays
1242 words (3.5 pages)

Essay on Analysis Of Trinidad And Tobago 's Education System

- Trinidad and Tobago’s education system reflects the country’s British colonial past through its current school structure. Following their conquest, the British remodeled the Caribbean school system after their own. Are Girls Treated Equally and Fairly. Boys and girls are treated equally and fairly. In fact, all students are expected to perform well during school and they are given an equal opportunity to excel. There are also alternatives for students who are having challenges in traditional academia....   [tags: High school, Education, College, Gymnasium]

Better Essays
979 words (2.8 pages)