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W!se's Financial Literacy Certification Program Prepares Students For College
Many high school students will be leaving for college later this summer and they have little to no idea how to manage their money when they arrive on campus.
By: Working in Support of Education (w!se)
How do we educate these students on the perils of being on their own and having their first experience with a credit card, maintaining a savings and or checking account, understanding their student loan, etc.? We need to start the process before they get to college. This is where w!se’s award-winning Financial Literacy Certification Program comes in. High schools in our program teach personal finance and administer our national Financial Literacy Certification Test. The test evaluates students’ knowledge of budgeting, money, taxation, interest, credit, banking, insurance, investing, regulatory agencies, housing, financial, estate and retirement planning. Students who pass the test earn a CFL (Certified Financially Literate).
“Our students master money management basics. They learn, for example, how to: formulate and live within a monthly spending plan; build savings and wealth; project and plan for future financial needs; identify red flags that signal predatory lending practices; take measures to combat identity theft; and evaluate the need for and understand a variety of insurance products,” says Phyllis Frankfort, President & CEO, Working in Support of Education (w!se) and creator of the Financial Literacy Certification Program.
The program supports a diverse population of high school students mostly from low to middle income neighborhoods. It also supports immigrants and their families, students with special needs including the blind, young people in correctional institutions and survivors of domestic violence.
Students receive instruction from teachers who are trained by w!se on content and instructional strategies for teaching a course on personal finance. Teachers may also receive a Certification in Personal Finance (CPF), demonstrating their mastery of the subject matter, by taking and passing w!se’s Financial Literacy Teacher Certification Test. This training builds teacher knowledge and capacity which, in turn, can help improve the quality of their personal finance instruction.
If you are interested in speaking to Phyllis Frankfort, about the program and the groups we help, please contact Eric Katzman at 212-421-2700 or via e-mail at ekatzman@wise-
The Financial Literacy Certification Program is supported by The McGraw-Hill Companies, Citi Foundation, The Allstate Foundation, the JPMorgan Chase Foundation, the Wachovia Wells Fargo Foundation, GE Money Bank, the NYSE Foundation, Inc, the Utah Division of Securities, New York City Department of Consumer Affairs (OFE), the Council on Economic Education (agent for the Department of Education EEE grant program), the Muriel F. Siebert Foundation, Bloomberg L.P., M&T Charitable Foundation, the Charles Schwab Foundation, Essential Lifestyle Planning Inc. and Signature Bank. Additional support is provided by the American Association of Life Underwriters, American Banker, America’
w!se - Working In Support of Education - is an educational 501(c)3 nonprofit dedicated to providing educational support services nationwide, building financial literacy, fostering business and social entrepreneurship, and preparing students for college and the global workplace. Thanks to its award-winning Financial Literacy Certification Program, created in 2003, more than 200,000 high school students in 23 states have taken w!se’s tests and are, therefore, better prepared for college life and/or the workplace armed with the knowledge and skills needed to lead financially healthy lives.
Eric J. Katzman
Manager, Communications and Events
Working In Support of Education (WISE)
227 East 56th Street, Suite 201
New York, NY 10022
Working in Support of Education (w!se)
A not-for-profit that provides national education programs and services, builds financial literacy, fosters social and business entrepreneurship, and prepares young people for college and the workplace.
The economic downturn underscores the critical need for financial literacy. Please help us make a difference. Consider a gift of your time or money. Volunteer or make a tax-deductible contribution online at www.wise-ny.org.
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W!se is an educational 501(c)3 nonprofit dedicated to providing educational support services nationwide, building financial literacy, fostering business and social entrepreneurship, and preparing students for college and the global workplace.