Suzanne Costanza is the executive director of the
Council for Economic Education. And Aaron Standish is the financial literacy coordinator for K-12 in the Palm Beach County School District.
This excerpt of the conversation has been edited for clarity.
05-11-2021 SUNDIAL SEG B Financial Literacy.mp3
Listen • 29:48
WLRN: Is there proof that kids who learn financial literacy are better prepared to take on credit cards, loans or buy a home one day?
MORRISON: There's been some great research in the last several years. In fact, one piece of research compared two states side by side — one where there was financial education, one when there wasn't. They found that kids who received the education were getting out of college and their credit scores were higher and their loan default rates were lower. It also has an even outsized impact on kids from low and moderate-income areas, who very often don't have parents who speak the language of money for a whole variety of reasons. Those kids really benefit.