E U R O P E A N
L E A G U E
F O R
M I D D L E
L E V E L
E D U C A T I O N
schools, high schools and colleges without a
single formal lesson on how to make life’s biggest
purchase. We could say the same for income
taxes, stocks, bonds, credit cards, real-estate
investing, saving for the future and staying out of
debt. In school, we don’t learn that banks, credit
card companies and investment firms put their
interests first; we’re a distant second.
For example, credit card companies want nothing
more than millions of clients who pay the
minimum every month. U.S. credit card debts are
at an all-time high. Americans had $1.021 trillion
in outstanding revolving credit in June 2017. Many
high-salaried, “educated” people pay credit card
interest every month.
Banks often loan us more money than they
should. Investment firms, also, aren’t all created
equal. Most of them put their shareholders first.
Nonprofit investment firms don’t do that. What’s
that? You didn’t know there’s such a thing as an
investment firm that doesn’t have to satisfy private
owners or stock market shareholders? If that’s
the case, your education system has cost you a
lot of money.
By now, you might be squirming in your seat. But
we can move school programs from awkward to
awesome. We just need to introduce these topics
in school– with the passion it deserves.
I taught personal finance at an American School
in Singapore. It was an elective course, so
students didn’t have to take it. The school started
to offer the course in 2011. Enough students
enrolled to create two classes. The following
year, interest doubled. I taught four classes. One
year later, my course load jumped to six classes.
The school had strict class size limits. But every
semester, parents and students begged that we
break that rule for the personal finance class. My
class was stuffed. I had to bring in extra desks.
Why The Song “Don’t
Stay In School” Went
Completely Viral
by Andrew Hallam
David Brown ruffled a lot of feathers when he
released the youtube hit, Don’t Stay In School. In
the video, he’s seen strolling through a corridor of
trees. His long brown hair has a dyed streak of
red.
It’s easy to dismiss him as an attention-seeking
punk: a high school dropout, perhaps, who makes
a living singing songs. But two things are worth
noting. First, David Brown is a university
graduate. He’s impressively articulate. Second,
his video went viral for a reason. Deep down,
people knew the guy was right.
Let’s clarify his message. He wasn’t saying kids
should drop out of school. Instead, he says
curriculum offerings have some backward
priorities. Ask educators the purpose of their
craft. Most will say they’re teaching the next
generation to be thoughtful, responsible,
contributing members of society.
But plenty of essential content, says Brown,
doesn’t get taught in schools. He lists personal
finance among it. Not every adult will use the skills
they learn in a poetry unit, algebra class,
chemistry class or biology class. In fact, most of
them never will. But every adult manages money.
Brian Stroman is a school superintendent in
Bloomburg, Texas. His school district includes
financial lessons at the middle school and high
school levels. “In my opinion,” he says, “An
understanding of money is the most important
thing for students to graduate with. You spend
your whole life dealing with money.”
Most of us have to eventually get a mortgage.
Yet, students can graduate from most middle
I’ve long felt every student, starting in
elementary school, should learn integrated
financial lessons.
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