Contact: Jim Hedemark
401.385.9411 | email

National High School Financial Literacy Challenge Launched

President Bush’s Advisory Council on Financial Literacy,
RI Jump$tart Coalition Encourage
RI High School Participation 

04.28.08 – Today, the United States Treasury launched the online “National Financial Literacy Challenge,” an activity that was recommended by President George W. Bush’s Advisory Council on Financial Literacy to promote high school student knowledge of personal financial principles.

According to the United States Treasury, “Whether today's high school students head to college or straight into the workforce, they will face a robust marketplace of financial products and services. To better navigate our nation's financial systems, high school students need to learn more about saving and investing, using credit wisely, avoiding fraud, and a number of other financial topics.”

Beginning on April, 28 and continuing through May 16, 2008, high school teachers are encouraged to visit the website, FLC.treas.gov/teacher, register for the Challenge and encourage their students to take the 35 question test.  The questions correlate to the Jump$tart Coalition’s national standards on youth financial literacy. 

Students scoring in the top 25th percentile of the nation's scores will earn a certificate of recognition from the U.S. Department of the Treasury.  Students scoring exceptionally well will win a 2008 National Financial Literacy Challenge Award, a medal. Receiving recognition in this national competition is prestigious and worthy of listing on a student's resume or college application. 

Additionally, according to the Charles Schwab Foundation, “Each of the top regional performers in the 2008 National Financial Literacy Challenge will win a $2,500 scholarship for use at the post-secondary institution of their choice.  A $1,000 contribution in their name will additionally be given to the school or program that provided their money management education.  Each winner and two guests will also enjoy a trip to Washington, D.C.  The trip will include an awards banquet on June 17, official recognition at the June 18 meeting of the President’s Advisory Council on Financial Literacy, and special tours and activities. 

Rhode Island Jump$tart Coalition Executive Director, Jim Hedemark applauds the effort, “We truly appreciate the positive approach of the National High School Financial Literacy Challenge.  Today, there is so much negative news about the financial literacy levels of our young people and I admit to promulgating much of it.  It is high time that we hold up and celebrate young adults who understand personal financial principles so that they may inspire their peers and adults alike.  I hope that every high school in the Ocean State will participate.” 

The Challenge was developed by the U.S. Treasury in consultation withfour non-governmental economists and the following education organizations:Jump$tart Coalition for Personal Financial Literacy, Junior Achievement USA, The National Council on Economic Education, and the National Endowment for Financial Education.