Financial Literacy News

• A bill making financial literacy education mandatory in Ohio now sits on the Governor’s desk awaiting his signature into law. Brian Page discusses this legislation on the Cleveland.com opinion page.
• Wharton Finance Professor calls for mandatory finance education in this Knowledge @ Wharton opinion piece.
• Read about the “Bridges to Wealth” program, founded by a Penn professor, and brining financial literacy into West Philadelphia that “levels the playing field.” (NextCity.org)
• Financial literacy requirement proposed for Montgomery County, Maryland high schoolers (Bethesda Magazine)
  

Economics

• The September jobs report was disappointing, especially after a drop in new unemployment claims last week. It looks to be a supply issue, not a demand issue, as labor force participation dropped yet again, leading to speculation about Fed’s next steps. But wages are up. (Yahoo Finance) (CNBC)
• It appears that for those with college degrees, all is back to normal in terms of jobs, but for Black women and those without college degrees, it is a different story. (WAPO-subscription may be required)
• For a deeper dive into this issue, a McKinsey report looks at Covid 19’s impact on college students as many are forced to drop out and fall into a world of uncertainty over potential employment.
• Senate averts the looming debt ceiling crisis at least temporarily. (AP)
• Worsening supply chain issues may make holiday shopping an absolute nightmare. (Recode)
• Housing prices are through the roof (pun intended). Who can afford to buy a house? (Wealth of Common Sense)

Investing

• Are all investments today in the form of NFTs? (The Reformed Broker)
• Everything, it seems, can be “fractionalized” and traded, even people. (Vox)

Student Loans

• The Public Service Loan Forgiveness program has made some changes after many have been frustrated by its rules and requirements. Take your pick of articles explaining the changes that will make this program accessible to more borrowers working in approved fields, including about 50,000 teachers by allowing people to consolidate ineligible loans into eligible loans, and including all previous payments towards the 120 requirement. (NPR) (NYT-subscription may be required) (Forbes) 

Career

• Is anyone interested seeing in how teachers are paid around the world?(CNBC)
• There are lots of alternatives to a college degree when looking for a high-paying job. Should high schools offer more guidance about alternatives for students? (NPR)

Higher Ed

• This survey reveals trends that may be useful to your students making that decision this year about college by asking current students if they made the correct or incorrect choice for themselves, and why or why not. (Inside Higher Education)

Credit

• The US Postal Service is looking to start a new line of business to give payday lenders some competition. (WaPo-subscription may be required)

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.