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Indiana Leader in Financial Literacy Urges D.C. Council to Amend, Approve Financial Literacy Bill

 

Legislation Presents 'Proactive & Innovative First Steps'

 

(Indianapolis, January 23, 2008) – An Indiana leader and expert in evidence-based financial literacy education will testify before the Washington D.C. Council to endorse legislation that would establish a financial literacy program for the districts school students.

 

David Godsted, Director of Financial Literacy for Networks Financial Institute (NFI) at Indiana State University, will testified before the Committee on Public Services and Consumer Affairs in support of Bill 17-0434, "The Financial Literacy Council Establishment Act of 2007."

 

"With each passing day, it becomes more apparent that the lack of sound financial literacy education has played a role in bringing about the current economic situation. Members should be commended for addressing this issue and for considering this bill which has potential for establishing the District as an urban financial literacy model for cities across the country," Godsted said.

 

While supportive of the overall mission and goals of the program, Godsted and NFI will provide the Council with recommendations for further refinement.

 

"At NFI, we are a leader in developing age-appropriate financial literacy education that can be easily imbedded in the curriculum.  Like literacy itself, it is critical that financial literacy be viewed as a lifelong learning endeavor with age-appropriate curriculum that can be taught to students at every level," Godsted said.  Specific recommendations NFI will provide include:

 

• Develop a comprehensive financial literacy curriculum and standards across the elementary, middle and high school levels;
• Emphasize the necessary involvement of parents and guardians in the financial literacy program; and
• Institute professional development and program evaluation measures to ensure classroom teachers are well-trained to provide such instruction and to evaluate the overall success of the program.

 

"With the right refinements, NFI is confident this legislation will go from good to great and provide significant benefits,” Godsted said.

 

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Networks Financial Institute at Indiana State University, founded in 2003 with a grant from Lilly Endowment, facilitates broad, collaborative thinking, dialogue and progress in the evolving financial services marketplace.  Programs concentrate on financial literacy education, student programs and thought leadership.