Institute mandatory financial literacy curriculum into Connecticut Higher Education system
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Former Federal Reserve Chair Alan Greenspan once said “the number one problem in today’s generation and economy is the lack of financial literacy.” Financial literacy is deficient in the United States. Many Americans lack basic financial knowledge, such as how to balance a checkbook, or the steps needed to set up a retirement plan. Millennials, in particular, face the challenge of paying for the high costs of college and potentially debilitating debt. More than 40% of teens report that stress about money affects their school performance, but only 31% know what a credit score is, and a mere 17% know the definition of a 401(k). Connecticut students need to be equipped with the financial tools to pay off their loans, and become self-sufficient after they graduate. It is vital that higher education institutions in the state institute financial literacy requirements into their curriculum.
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