Fifth Third Bank is helping high school juniors in Northeast Ohio learn how to manage money by partnering with financial expert Dave Ramsey to bring his money education curriculum into local schools. The partnership, now in its fourth year and offered at no-cost to school districts, will benefit 7,684 students at 108 schools in eight counties.
During the 2012-2013 school year, the curriculum was taught in 97 Northeast Ohio schools at no cost to the schools or the students' families. The Bank invests approximately $1,500 per school to provide the curriculum that helps school districts meet new financial education requirements. Since the Fifth Third-Ramsey alliance began in 2010, more than 330,000 students have learned how to manage money properly nationally.
The Foundations in Personal Finance curriculum has four units:
- Saving & Investing: Savings, Understanding Investments, Wealth Building & College Savings
- Credit & Debt: Dangers of Debt, Consumer Awareness, Credit Bureaus & Collection Practices
- Financial Responsibility & Money Management: Budgeting 101, Bargain Shopping, Relating with Money
- Insurance/Risk Management & Income/Careers: Careers & Employment Taxes, Ins & Outs of Insurance, Real Estate and Mortgages
The turnkey program is designed to be taught by the teacher in school, aided by video lessons delivered by Ramsey along with other teaching materials. The curriculum meets all state and national standards for personal finance/financial literacy and can be taught in 45 or 90 days or the teacher can customize the program to meet the needs of students. At the end of the program, students receive a certificate of completion.
"Financial literacy is important to long-term success and bringing money management skills into high school classrooms is a way to ensure young adults are learning the skills they need,” said Jerry Kelsheimer, President and CEO, Fifth Third Bank (Northeastern Ohio). “We’re proud to be able to continue bringing Foundations in Personal Finance to classrooms as part of our ongoing commitment to the Northeast Ohio community.”