Thanks to John Pelletier, who joined me recently on the NGPF Podcast show to discuss national trends in personal finance education and a solution to the professional development needs of high school instructors. Embarking on a second career with a mission to improve the financial literacy of young adults in Vermont, John has had a tremendous impact on creating a national dialogue on what the key ingredients of a personal finance program should look like.
Among John’s many awards, he was recently selected as the 2015 Financial Literacy Champion by the Vermont JumpStart Coalition. Included in this broad-ranging discussion, John shares the “hot off the press” results of his biennial Report Card which evaluates state-level efforts to improve financial literacy in high schools. Enjoy!
0:30: How did a Duke law graduate with 20 years in the asset management industry end up starting up a financial literacy center at Champlain College in Burlington, VT?
3:15: Discusses Vermont Summit as launch pad for financial literacy efforts within the state
4:30: Discusses Financial Literacy Summer Institute pilot program held at Champlain College
12:00: Philosophy of Summer Institute pilot for teachers; gaps that training filled
19:00: Costs to run a Summer Institute
20:55: Why John added student loans training module for the teachers in the third year of institute
22:30: John discusses 2015 National Report Card on State Efforts To Improve Financial Literacy in High Schools and factors that go into the grades given to each state
27:15: How are we doing as a nation when it comes to personal finance based on your research?
28:00: Examples of states (Alabama and Florida) that have made changes at the state level to improve their grades
30:00: Research found that the more local control at the district level the less likely it is that a state will mandate that personal finance be taught
31:00: States doing an excellent job in training teachers (Utah)
34:00: Why does Utah have such a concerted effort to teach high school students financial literacy?
35:50: How to pitch a school board to increase commitment to personal finance
38:35: Why student loans and college financing issues are not incorporated in national standards for financial literacy
43:00: Discusses shortcomings in entrance counseling process
45:45: What concepts would you teach high school seniors about personal finance if you only had 45 minutes?
- JumpStart Teacher Training Alliance
- Details on Financial Literacy Summer Institute
- NEFE Study (2009): Teachers’ Background & Capacity to Teach Personal Finance
- 2015 National Report Card on State Efforts To Improve Financial Literacy in High Schools
- Utah Application for General Financial Literacy Endorsement
- How to pitch your school board:
- John’s column in HuffPost: The 45-Minute Financial Literacy Workout for High School Seniors