New York, NY (PRWEB) May 20, 2013
• Inaugural event marks the 10th anniversary of the national Working in Support of Education (w!se) Financial Literacy Certification Program
Working in Support of Education (w!se), a leading New York City based educational not-for-profit, today announced the winners of the inaugural “100 Best w!se High Schools Teaching Personal Finance” during a ceremony at the New York Stock Exchange.
The release of the rankings marks the 10th anniversary of the w!se Financial Literacy Certification Program, which provides teachers with a curriculum and instructional resources to teach personal finance and to measure student knowledge through the w!se standardized Certification Test. Students passing the test are designated Certified Financially Literate™, which shows that they are financially capable when they graduate. Since its introduction, the program has become integral to personal finance instruction in thousands of classrooms across the United States and is now offered in 28 states.
The 100 Best w!se High Schools Teaching Personal Finance recognizes the top performing high schools in w!se’s national network.
The No.1 ranked school is High School for Math, Science & Engineering at City College in New York City. Other high schools among the top 25 are situated in Utah, Indiana, Tennessee, Nebraska, Virginia, New Jersey, Illinois, South Carolina and New York State.
The schools were honored with banners, as well as a trophy for the No. 1 ranked school at a ceremony featuring Sam Stovall, Chief Investment Strategist, Standard & Poor’s Equity Research; Pat Kiernan, Morning Anchor, NY1; Judy Chapa, Vice President, Financial Services Roundtable; and Judy Sams, Program Specialist, Business and Information Technology, Virginia Department of Education.
The fastest growing age group declaring bankruptcy is young adults, ages 19 to 25. The 100 Best w!se High Schools Teaching Personal Finance ranking seeks to shine the spotlight on the importance of personal finance education. Only 13 states require personal finance instruction in high school and less than 10 percent of high school students take any course on money management before they graduate. The level of financial literacy is particularly acute among people with no post-secondary education and with incomes below $25,000. According to the FINRA Investor Education Foundation, Hispanics and African Americans, who are disproportionately represented in these education and income segments, are especially vulnerable.
“We created the Financial Literacy Certification Program to address the chronic lack of financial literacy among young people,” said Phyllis Frankfort, President & CEO of w!se. “It is imperative that students be exposed to personal financial education before they graduate high school, so they have the knowledge and skills to break the cycle of poverty and to start on the path toward financial wellbeing.”
“We are proud participants in the w!se Certification Program,” said Crystal Bonds, Principal of the High School for Math, Science & Engineering at City College. “We actually hear from our graduates who tell us of specific ways they apply what they learned from the program in managing their money. It’s wonderful because students really benefit from being financially capable young adults.”
The second through fifth place schools include Itineris Early College High School, West Jordan, UT; Coeur d’Alene High School, Coeur d’Alene, ID; Utah County Academy of Sciences, Orem, UT; and Aviation High School, Queens, NY. A complete list of the top 25 schools is included as an appendix.
w!se determined the ranking with support from an Advisory Board comprising experts from academia and finance. The predominant factor was the average score on the Financial Literacy Certification Test with consideration given to eligibility for free lunch and the proportion of test takers to the school population.
Mr. Stovall, of Standard & Poor’s, said: “w!se provides the basis for achieving one of the three pillars of success (Health, Wealth and Happiness) by teaching financial preparedness.”
The Financial Literacy Certification Program has touched the lives of more than 250,000. On average, 75 percent of students pass the Certification Test every year, graduating financially literate. The ranking will be published annually, giving all schools that participate in the Financial Literacy Certification Program an opportunity to earn a place on it each year.
For more information about w!se, contact info(at)wise-ny(dot)org, or visit the program website http://www.wise-ny.org/ for the most recent program news and updates.
About Working In Support of Education (w!se)
Working In Support of Education (w!se) is a national not-for-profit dedicated to improving the lives of young people through programs that develop financial literacy and readiness for college and the workforce. Our Initiatives are built on five pillars – relevancy, real world experiences, strong partnerships, volunteerism, and evaluation. The standardized w!se Financial Literacy Certification Test is administered by schools participating in the Financial Literacy Certification Program to measure knowledge, skills and behavioral changes in students after a unit or course on personal finance.
APPENDIX - Top 25 of the 100 Best w!se High Schools Teaching Personal Finance 2013
1. High School for Math, Science & Engineering at City College, New York, NY
2. Itineris Early College High School, West Jordan, UT
3. Coeur d'Alene High School, Coeur d'Alene, ID
4. Utah County Academy of Sciences, Orem, UT
5. Aviation High School, Queens, NY
6. Central Magnet School, Murfreesboro, TN
7. Wausa Public School, Wausa, NE
8. Heritage High School, Newport News, VA
9. Passaic County Technical Institute, Wayne, NJ
10. Townsend Harris High School, Queens, NY
11. Halifax County High School, South Boston, VA
12. Eleanor Roosevelt High School, New York, NY
13. Holston High School, Damascus, VA
14. Shenendehowa High School, Clifton Park, NY
15. Queens High School for the Sciences, Queens, NY
16. High School for Arts & Business, Corona, NY
17. Queens Gateway to Health Sciences, Queens, NY
18. Willsboro Central School, Willsboro, NY
19. Leon M. Goldstein High School, Brooklyn, NY
20. High School for Law & Public Service, New York, NY
21. Cascades High School, New York, NY
22. Whitney Young High School for International Studies, Chicago, IL
23. Menchville High School, Newport News, VA
24. Southold High School, Southold, NY
25. Lexington Technology Center, Lexington, SC