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Starting early: More middle schools to teach financial education

CNBC – Sharon Epperson

“When it comes to the value of a dollar, most kids are at a loss. The sixth graders at Golden Door, a public charter school in Jersey City, New Jersey, are trying to change that. Starting in the fall, these 11- and 12-year-olds will be required by state law to learn the basics of saving and spending, the dangers of credit card debt and how to think about major expenses down the road, like a car or college” (more)

Texting Nudges Harm Degree Completion

Education Next – Jay P. Greene

“When behavioral nudges using text messages became the flavor of the month a few years ago I expressed some serious reservations. In general, I was concerned that nudges substitute the preferences of distant experts for those of people who may understand their own situation better, thereby pushing people to do things against their better judgement. These interventions may appear successful in the short run, especially when we examine near-term outcomes that are over-aligned with the intervention, but they may harm people over the long run.” (more)

What Student Loan Borrowers Can Expect From The Shutdown

Forbes – Adam Minsky

“On December 22, 2018, the federal government officially shut down after Congress and President Trump could not agree on funding for the President’s proposed border wall. When the government shuts down, it means that nonessential employees are sent home without pay, and federal agencies cease most nonessential operations, until the impasse is resolved.” (more)

The Best Financial Holiday Gift For Your Child’s Education Planning

Forbes – Megan Gorman

“Given the staggering numbers for student loan debt and holiday spending, there’s a way to merge some of the funds spent on the holiday season into help for education funding – gift cards directly targeted for 529 plans. “Hands down — helping a loved one save for college or pay down student loan debt is a gift that will keep on giving,” says Wayne Weber, CEO of Gift of College. “It alleviates stress and leads to brighter financial outcomes.” Gift of College is a simple approach to funding college that solves a common problem. Family and friends can buy a gift card through the website, or in a store, for a child’s 529 plan, in any denomination $25 or above.” (more)

Financial education could ease student loan stress

Futurity – Sheena Rice-Missouri

“Estimates indicate that a quarter of American adults currently have student loans to pay off, and most don’t have the financial literacy to manage their debt successfully. The average student in the Class of 2016 has $37,172 in student loan debt.” (more)

Financial literacy serves up both fiscal and SEL returns

Education Dive – Lauren Barack

“When most educators think about teaching their students financial literacy skills, balancing checkbooks, and paying bills on time are likely at the top of the list. But having some investing skills — for example, understanding how the stock market works, what a mutual fund is, and how a 401k is structured — is just as crucial to their financial health.” (more)