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CU System
Maryland coalition answers professors call for fin ed
BALTIMORE (12/18/07)--To answer an economics professor’s call for more financial education for grades K-12 in the state, the Maryland Coalition for Financial Literacy (MCFL) has sent a letter of response outlining some Baltimore County public school programs in the area. Allen Cox, managing director of the Maryland Coalition for Financial Literacy, penned the letter to Douglas Lamdin, professor of economics at the University of Maryland Baltimore County, according to the Maryland and District of Columbia Credit Union Association (MDDCUA) (Focus Newsletter Dec. 17). Many consumers make poor financial decisions that lead to foreclosures, high debt and other financial crises because they do not have the educational background in these areas, Lamdin said in a commentary published in the Dec. 11 issue of the Baltimore Examiner. Teachers need education to teach economics and finance in Maryland’s public schools, he added. Lamdin recommends that state and local boards of education take an active role in placing these types of courses in the schools. Cox responded that Baltimore County public schools require high school seniors to take either Advanced Placement Economics or Economics and Public Issues. Five additional school districts in Maryland now require for graduation, courses that focus on financial literacy concepts. The coalition hopes to add three more school systems this year. That would mean nine out of 24 require students to take a course that includes financial literacy concepts. Earlier this year, MDDCUA led an effort to pass Maryland Senate Resolution 7, which urges county boards of education to integrate the principles of basic personal finance into their curriculum. The resolution also asks county boards to implement standards for graduation from a public high school. MDDCUA is an MCFL member.


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