FINANCIAL ILLITERACY:
AN AMERICAN EPIDEMIC
Our nation is rapidly sinking into a sea of
debt and financial dependency.
And the crisis is growing.
THE SYMPTOMS
Accumulating
Oppressive
Debt
Misusing
and Abusing
Credit Cards
Inadequate or
Non-Existent
Savings
THE RESULTS
Increased
Bankruptcy Filings
Overdependence on Government
No Retirement
Savings
HOW DO WE SOLVE THIS EPIDEMIC?
It starts with educating our children
in the classroom.
The consequences of financial illiteracy manifest themselves throughout our society.
This national crisis may seem daunting and, at times, impossible to overcome, but the American Public Education Foundation thinks otherwise.
We believe financial literacy begins in the classroom at the earliest ages.
Together, we can embrace our responsibility to prepare the next generation for learning, for leadership, and for life, and change the course of their future.
THE UNCOMFORTABLE TRUTH OF
FINANCIAL ILLITERACY
1.
16% of suicides in the US occur in response to a financial problem
3.
The U.S. ranks 14th in the world for percentage of financially literate adults
4.
High school seniors scored an average of 48% correct on a financial literacy exam
5.
Four out of five adults say they were never given an opportunity to learn about personal finance
6.
Only 16% of Americans from ages 18 to 26 are “very optimistic” about their financial future
7.
Only 1 out of 3 college students believe they will graduate with the skills and knowledge necessary to be successful in the workplace
8.
Financial illiteracy cost Americans more then $295 billion in 2018
MAPPING OUT FINANCIAL LITERACY
The American Public Education Foundation’s Vision 2020 Financial Literacy Report Card grades each state in the United States, and the District of Columbia, in terms of K-12 financial education. These grades are based on current state-wide requirements, standards, and curriculum for personal finance.
Click on the states below to see an in-depth look at grades and statistics
Washington D.C.
GRADING KEY
Fixing the problem begins with taking an honest look at where we stand with financial education.
LIST VIEW OF STATES' GRADES
In order to achieve financially literate high school graduates, a state should have personal finance components embedded into K-12 standards, for each grade, and should ensure that each high school graduate has successfully completed a personal finance-specific course near the end of their secondary school career.
State | Grade | Report Card Findings |
|---|---|---|
Alabama | C | Learn more |
Alaska | F | Learn more |
Arizona | C | Learn more |
Arkansas | D | Learn more |
California | D | Learn more |
Colorado | B | Learn more |
Connecticut | D | Learn more |
Delaware | C | Learn more |
District of Columbia | F | Learn more |
Florida | C | Learn more |
ABOUT THIS INITIATIVE
The American Public Education Foundation has made financial literacy one of its core focuses over the next decade. With the Vision 2020 Report Card initiative, our foundation is putting a spotlight on financial education in the classroom.
Our goal is to help ensure our next generation is prepared to handle their finances smartly, avoid debt, better understand our economy, and learn to make good decisions about their life and money.