Funding Information
The OCCC has two primary goals for its credit education program: equipping consumers with the necessary knowledge to use credit wisely, and assisting consumers who experience credit-related problems with our licensees.
Ongoing credit education for consumers is essential. Although the complexity and variety of credit options steadily increases, the credit savvy of most consumers remains at low levels. The OCCC combats financial illiteracy in part through educational programs aimed at high school and college students. Our agency wants to make credit education as common in Texas high schools as history or English. Young Texans would benefit greatly from a comprehensive education in personal finance offered at the high-school level, before they begin to use credit products such as payday loans or credit cards.
Right now, many teenage consumers are being reached through programs offered to educators (such as OCCC presentations), but these efforts are limited by financial considerations as well as the practical issues of integrating a new curriculum into an educational system already overwhelmed with teacher and curriculum challenges.
The OCCC’s Need for Grant Funds
In an effort to make personal finance education an easily integrated part of the Texas high school curriculum, we plan to develop a comprehensive curriculum guide for use in middle schools and high schools. The curriculum must meet the knowledge and skills requirements set forth by Chapter 120 of the Texas Administrative Code. Meeting those requirements rules out the use of many existing personal finance curricula, but also ensures the high quality of the finished product. At a minimum, the agency will need to customize materials or create entirely new ones.
We aim to create a user-friendly curriculum which teachers can seamlessly integrate into their current lesson plans. This comprehensive program will allow teachers to customize the materials to fit the level and even the feel of their classroom at any given time. For example, we will include instructive games to enliven a Friday afternoon math class, web- or CD-ROM-based activities for students itching to get onto computers, and real-world scenarios relevant to students’ interests, such as buying a car or paying for college.
Credit issues will receive extensive treatment, because a solid credit report is essential in so many aspects of an adult’s personal life, from arranging a cellular phone contract to renting an apartment to obtaining insurance. The curriculum will impress upon students the difference between debt as an investment (e.g., student loans and mortgages) and debt as disaster (e.g., pay day loans and credit cards). Given that the number of bankruptcies declared in 2001 increased by 22% over the year-2000 filings—and that number is expected to increase by an additional 10% in 2002—the need has never been greater for young people to enter their adult lives with a thorough understanding of how credit works, and how it can work for them.
To create the most effective, user-friendly materials, we intend to arrange focus groups of teachers and students to determine the best and worst features of the materials in use in schools today. Other expenses will include the costs of consulting with paid experts in the field, creating and customizing materials, printing and distributing the completed program, and promoting the new curriculum to teachers and principals.
For more information about this project, please contact Sue Jevning by phone at 512.936.7600 or via e-mail.
Credit Education Funding Sites
The following organizations provide either funding or materials for personal finance education programs.
Jump$tart Coalition: The Jump$tart Coalition for Personal Financial Literacy seeks to improve the personal financial literacy of young adults. Jump$tart's purpose is to evaluate the financial literacy of young adults; develop, disseminate, and encourage the use of standards for grades K-12; and promote the teaching of personal finance.
National Endowment for Financial Education: The National Endowment for Financial Education® (NEFE®) is a non-profit foundation dedicated to helping all Americans acquire the information and gain the skills necessary to take control of their personal finances.
Other Funding Opportunities
Two additional web sites present information about grant opportunities for a wider spectrum of Texas organizations.
State of Texas Grants Team: The State Grants Team's mission is to alert entities throughout Texas about funding opportunities. The State Grants Team has compiled a number of resources about public and private funding opportunities.
Texas.gov: The mission of the Texas.gov site is to provide a single point of access to Texas government information and services. You can look up grant funding information with the home page’s search feature.
