During his confirmation hearings, Education Secretary Arne Duncan said that "education is ... the only sure path out of poverty."

He's right; the higher one's education level, the less likely one is to live in poverty. But staying out of poverty isn't just about making money — it's also about knowing how to handle it.

Credit card debt, rent or mortgage payments and other bills can mount quickly, leaving someone on the brink before they know what's hit them. When credit card companies wave "special offers" in 18-year-olds' faces, they generally don't educate them on interest rates and the danger involved in paying the minimum each month.

So why do our nation's public schools and universities do such a poor job of instilling financial literacy in students? Not only do most students fail financial literacy tests, but their teachers don't feel comfortable enough with the subject matter to teach it.

The importance of financial literacy goes beyond the personal level; it's actually key to the stability of the entire global financial system.

Urge Education Secretary Arne Duncan to make financial literacy courses — for students and teachers — a priority.

Photo credit: BigBeaks