Visa and Council for Economic Education Launch FinEd50 to Advocate for Financial Education for Students Across America

Rhea-AI Summary

Visa (NYSE: V) has launched FinEd50, a nationwide coalition aimed at enhancing access to financial education for U.S. students. Co-founded with the Council for Economic Education, the coalition aims for state-level actions to ensure every student can take a personal finance course. Currently, only 27 states mandate such courses. The coalition focuses on curriculum relevance, teacher professional development, and tracking mechanisms for equitable access. Visa has a long-standing commitment to financial education resources.

Positive

• Launch of FinEd50 to improve financial education access.
• Coalition includes notable partners like the Council for Economic Education.
• Focus on equitable access for all students, particularly in disadvantaged communities.
• Visa's long history of commitment to financial education resources.

Negative

• Only 27 states require personal finance courses in schools, indicating limited access.
• Quality of existing financial courses varies significantly across states.

Nationwide Coalition Dedicated to State-Level Action that Guarantees Equitable Access to Personal Finance Courses and Provides Teachers with Training and Curricula on School-Based Financial Education​

SAN FRANCISCO--(BUSINESS WIRE)-- Visa (NYSE: V), a leading global payments technology company, announced today the launch of FinEd50, a nationwide coalition of nonprofits, community leaders, and corporate partners dedicated to improving access to quality financial education for students in the United States. The coalition is co-founded by Visa and the Council for Economic Education (CEE), and members include the National Endowment for Financial Education (NEFE) among others.

“The state of financial education offered to students in the U.S. varies significantly. Where students live should not impact whether they have access to knowledge that will help them learn how to make informed financial decisions in their lives,” said Worku Gachou, head of North America, inclusive impact & sustainability, at Visa. “Visa is proud to be a cofounding partner of FinEd50 and we welcome all who are passionate about ensuring young people have access to financial education to join us.”

According to CEE’s 2022 Survey of the States: Economic and Personal Finance Education in Our Nation’s Schools, only 27 states require schools to offer a personal finance course and the quality of courses varies wildly. While there has been some progress over the last decade, many young people in financially disadvantaged communities remain without access to a personal finance class. Delivering financial education through digital channels and in classroom settings can help children understand how to budget and build wealth, which can lead to more economically prosperous lives.

“America is failing our children when we don’t provide them with opportunities to study critical economic and personal finance concepts before they leave high school for college, for jobs and for their futures,” said Nan J. Morrison, CEE president and chief executive officer. “While we’re encouraged by some progress in our latest Survey, all young people across the country need more and deserve better.”

The FinEd50 coalition will be dedicated to achieving:

• State-level action that guarantees equitable access to a personal finance course for every student.
• Curriculum that meets the National Standards for Personal Financial Education and are culturally relevant to students’ lives.
• Providing teachers with access to professional development through innovative funding mechanisms.
• A measurement mechanism to track access and ensure equitable reach.

This new coalition builds on Visa’s more than 30-year commitment to developing innovative, free, and easily accessible financial education resources for businesses, individuals, and communities. Learn more about Visa’s commitment to financial education here.

For more information on FinEd50, please visit: www.FinEd50.com.

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220317005159/en/

Visa Media

Lindy Mockovak

lindy.mockovak@visa.com

Source: Visa Inc.

FAQ

What is the purpose of FinEd50 launched by Visa?

FinEd50 aims to improve access to quality financial education for U.S. students.

Which organizations are involved in FinEd50?

FinEd50 is co-founded by Visa and the Council for Economic Education, along with other partners.

How many states require personal finance courses?

Currently, only 27 states require schools to offer a personal finance course.

What are the goals of the FinEd50 coalition?

The goals include equitable access to financial education, culturally relevant curricula, and teacher professional development.

How does Visa support financial education?

Visa supports financial education through resources, coalitions, and initiatives like FinEd50.