From The Blog
by Marcus Brandon
Here’s a question for you: You have $1,000 in a savings account earning 2 percent interest annually. After five years, how much will you have?
Not for more than 60 percent of the American population. A recent study found that less than one-third of Millennial-aged participants could answer similar questions correctly. That percentage breaks down even farther when it comes to low-income or African American and Latino students.
When it comes to basic financial literacy, our kids aren’t where they need to be. But here in North Carolina, we’re rolling up our sleeves and doing something about it.
A few weeks ago the North Carolina House passed their bipartisan budget. In it, the house added funding to enhance financial literacy curricula for Carolina students. I’m proud to be in a state that’s showing its firm commitment to ensuring that our students leave school not just college and career ready, but life-ready.
CarolinaCAN has been with the House every step of the way. We helped to build a strong coalition of community leaders, including NC Association of Bankers, Credit Union League, realtors, and the NC Council on Economic Education. Together, our coalition worked with the House to pass HB 775, allocating additional funding to augment existing financial literacy curricula, introduce professional development to teachers who may want additional preparation on teaching personal finance and provide assessments to students taking such classes.
Great Schools Change Everything
All of our children deserve great schools, no matter their background. CarolinaCAN is a nonprofit education research and policy organization that convenes education leaders across the state and arms them with the information they need to enact policies that will give every North Carolina child access to a great school. Because great schools change everything.
North Carolina has too many dual systems of education based on a child's zip code. To break the tradition of inequity and provide all students with access to an excellent education, we need multiple partners who are committed to pushing for innovation and evidence-based reforms. CarolinaCAN is a critical partner in this work. The organization will help highlight and promote successful practices from across the state and country to change the conversation about what's possible for North Carolina's children.Denise Watts, Executive Director, Project L.I.F.T.Jul 7 2013
I was honored to serve as interim chair of CarolinaCAN in the group's early development. Together with our partners, we've built an organization whose balanced and research-driven voice could not come at a more important time in North Carolina. Under the leadership of founding executive director Julie Kowal and her board, CarolinaCAN will help ensure that research, best practices and a focus on students' needs are driving education reforms across the state.Christopher Gergen, CEO, Forward ImpactJul 25 2013