FROM THE OFFICE OF PUBLIC AFFAIRS

September 17, 2004
JS-1929

Deputy Assistant Secretary Teaches Personal Financial Skills to High School Seniors and Leads Financial Education Roundtable in Tampa

Treasury's Assistant Secretary for Financial Education, Dan Iannicola today taught a personal finance lesson on the topic of managing credit to a class of Robinson High School seniors in Tampa, Florida.  Iannicola used Financial Freedom's credit and banking lesson, which covers information on the functioning of the U.S. banking system and how consumers can avoid credit problems.  While in Tampa, Iannicola also led a financial education roundtable at the University of South Florida's Gus A. Stavros Center for Free Enterprise and Economic Education.

During the lesson at Robinson High School, Iannicola emphasized the importance of maintaining a good credit score and used an analogy the students could relate with, "Your credit history and credit score are like a report card on how you manage your finances as an adult.  Just as you try now to get good grades – you should try to earn and keep a good credit score your entire lives," said Iannicola.

He also told the students that learning to apply good credit management skills to their personal finances early on can benefit them in the future.  "It can mean the difference between getting ahead and just getting by," Iannicola continued.

Following the lesson, Iannicola participated in a financial education roundtable with over ten local government, nonprofit and private organizations.  Iannicola led the roundtable discussion, which focused on Treasury's financial education initiatives, as well as the role of the Financial Literacy and Education Commission in improving financial education across the country.

The Financial Freedom student workbook, designed to improve middle and high school students' financial literacy, is a new program and was designed by the Florida Council on Economic Education.  The Florida Council on Economic Education designs and offers teaching materials and economic education courses for teachers so that they can integrate economic concepts into their classroom activities.  Financial Freedom is endorsed by the Florida Department of Education and is correlated to State Standards.  It covers basics of money management, banking, credit, buying a car, car insurance, securing housing and getting a job.

The Gus A. Stavros Center for Free Enterprise and Economic Education, an affiliate of the Florida Council on Economic Education, promotes the integration of free enterprise and economic education into the K-12 curriculum in the ten school districts served by the University of South Florida.

The Department of the Treasury is a leader in promoting financial education.  Treasury established the Office of Financial Education in May of 2002. The Office works to promote access to the financial education tools that can help all Americans make wiser choices in all areas of personal financial management, with a special emphasis on saving, credit management, home ownership and retirement planning.  The Office also coordinates the efforts of the Financial Literacy and Education Commission, a group chaired by the Secretary of Treasury and composed of representatives from 20 federal departments, agencies and commissions, which works to improve financial literacy and education for people throughout the United States.  For more information about the Office of Financial Education visit:  www.treas.gov/financialeducation.

- 30 -