Chariho Superintendent, Barry Ricci and Scott Guild of the Federal Reserve Bank of Boston join students at Chariho High School during a visit to recognize the school's committment to personal financial education (the day was also homecoming, hence the togas).
For Immediate Release
Contact: Jim Hedemark
Executive Director
RI Jump$tart Coalition
401.385.9411
Chariho First H.S. to Require Financial Literacy
General Treasurer Caprio, Federal Reserve Bank of Boston and Jump$tart Coalition To Recognize First RI High School to Require Personal Finance for Graduation
10/02/09 - Wood River Junction, RI (Chariho H.S.) - The Rhode Island Jump$tart Coalition for Personal Financial Literacy and special guests General Treasurer Frank T. Caprio, and G. Scott Guild, Director of Economic Education at the Federal Reserve Bank of Boston will recognize Chariho as the first high school in Rhode Island to require that students complete and pass a course in personal finance prior to graduation.
Event Details
Friday, October 2nd, 2009
10:45 – 11:30 a.m.
Chariho High School
435 Switch Road
Wood River Junction, RI 02894
All guests must check-in at the school’s main office.
Caprio and Guild will provide commendations to the school during an advanced placement economics class taught by Paul LaFrance in the school’s Financial Learning Center.
Based on 2008 RI Jump$tart Coalition research, most high schools in Rhode Island offer courses in personal finance. However as electives, these courses are not required and only reach about 5% of students each year statewide. Other Jump$tart research reveals that Rhode Island high school seniors can answer just 48% of personal finance questions on average.
All students at Chariho high school must now achieve a passing grade in either Personal Finance I (a classroom course) or MoneySKILL (an online course) prior to graduation. Additional details can be provided by Robert Mitchell, Principal at (401) 364-7778.
Chariho principal, Robert Mitchell explains his school’s commitment and approach:
“We have always felt very strongly that our students need to be informed about financial literacy. In fact, we believe that students all across the country need to be educated on this very important subject. Most students graduating from high schools and colleges around the country have not learned the essential skills related to managing their money in an informed and responsible way.”
Mitchell continues:
“Students need to know more about everything related to personal finance from balancing a checkbook, to saving and borrowing money, learning about credit and credit scores and more. We believe we have a responsibility as a school to prepare our students to be informed financial consumers. Our Superintendent of Schools and school committee have been very supportive of our work on this critical issue, and parents understand the value of having their children learn these essential life skills.”
Charles Kelley, president of the RI Jump$tart Coalition joins in giving praise, “We hope that Chariho’s commitment and creativity serve as an inspiration and model for other schools as they address financial literacy solutions that are best for their students and systems. The Jump$tart Coalition remains ready to offer free curricula, volunteer support and our national standards to schools who are ready to move forward with financial literacy education.”
Jim Hedemark, Executive Director of the RI Jump$tart Coalition states, “Chariho has proven that tight school budgets and full student schedules are no excuse for graduating students who are unprepared to enter the personal financial marketplace.”
About the RI Jump$tart Coalition for Personal Finance:
The Rhode Island Jump$tart Coalition for Personal Financial Literacy is a nonprofit organization incorporated in May of 2004 with dozens of academic, business and civic sector partners who support increased youth personal financial education in the Ocean State. The Rhode Island Coalition is an affiliate partner of the national Jump$tart Coalition.
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