DALLAS, Nov. 17, 2021 /PRNewswire/ — In a recent survey, the National Financial Educators Council (NFEC) found widespread support for its efforts to get F.L.E.C. subjects taught in US public schools. The acronym F.L.E.C. stands for Financial Literacy, Entrepreneurship, and Career Education – topics that have practical value for 100% of American youth in today’s volatile economic landscape.
The survey was conducted between October 15 and October 30, 2021, asking 1,101 Americans the question, "Do you think high school students should have access to financial literacy, entrepreneurship, and career education classes?" Support for F.L.E.C. education was high – over 80% answered "Definitely Yes" or "Yes." The results are summarized below:
"Definitely Yes" or "Yes" – 81.9%
"Maybe" – 8.5%
"Definitely No" or "No" – 9.6%
For complete survey results, see: https://www.financialeducatorscouncil.org/financial-literacy-entrepreneurship-career-education-survey/
Vince Shorb, the NFEC CEO, commented, "Public schools spend a lot of time teaching STEM topics today, which has benefits for that small number of students who are able to land jobs in STEM fields. F.L.E.C. education, on the other hand, gives advantages to 100% of students. Isn’t it time we started teaching F.L.E.C. in schools?"
The success of our youth today depends on F.L.E.C. education because it has impact on both their ability to manage money and their future earning potential. In the Financial Literacy education component of F.L.E.C., youth learn skills and behavioral strategies that empower them to make informed financial decisions. Entrepreneurship and Career Education teach young people methods for identifying creative income sources, maximizing income, and pursuing the personal lifestyle they envision.
The Financial Industry Regulatory Authority (FINRA) has conducted research that demonstrates the efficacy of mandated high school personal finance education. Georgia, Idaho, and Texas introduced such mandates in 2000. FINRA studies show that, within three years of program implementation, students in those states had substantially higher credit scores than those in neighboring states without such mandates. This research along with other studies indicate a clear need to teach financial education in schools.
The National Financial Educators Council, a recognized thought leader in the financial literacy sphere, partners with others in the financial education industry to conduct research on people’s personal financial behaviors, attitudes, and competencies. The NFEC sponsors studies, surveys, and think tank discussions to illuminate best practices in the financial literacy space.
SOURCE National Financial Educators Council