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History of Financial Literacy Education in Maryland

History of Financial Literacy Education in Maryland. Task Force to Study How to Improve Financial Literacy in Maryland. Task Force Recommendations Develop K-12 Personal Financial Literacy Standards

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History of Financial Literacy Education in Maryland

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  1. History of Financial Literacy Education in Maryland

  2. Task Force to Study How to Improve Financial Literacy in Maryland • Task Force Recommendations • Develop K-12 Personal Financial Literacy Standards • Coordinate a Design Team to Create a Systemic Approach to Implementation by Providing Professional Development, Curriculum, & Resources • Consider Regulations for a K-12 State Curriculum • Require Reporting from 24 Local School Systems • Develop a way to Evaluate Local Financial Literacy Programs

  3. Advisory Council and Design Team • Advisory Council • Established an advisory group to engage local representatives from education and financial communities to help guide MSDE’s work • Co-Chaired by Lynne Gilli and Sheldon Caplis • Design Team • Established a design team to develop the Maryland State Curriculum for Personal Financial Literacy Education • Co-Chaired by Marquita Friday and Luke Rhine

  4. State Board of Education • Code of Maryland Regulations (COMAR) • The State Board accepted the Maryland Curriculum for Personal Financial Literacy Education • The State Board adopted regulations requiring local school systems to provide all students with an instructional program in personal financial literacy at the elementary, middle, and high school grade levels • Program certification occurred in September of 2011 and will occur every five years thereafter • Updates are conducted annually and are reported to the State Board of Education and the State Legislature

  5. The Maryland State Curriculum for Personal Financial Literacy • Make Informed, Financially Responsible Decisions • Relate Careers, Education and Income • Plan and Manage Money • Manage Credit and Debt • Create and Build Wealth • Manage Risks and Preserve Wealth Organized by Gradebands: 3-5, 6-8, 9-12

  6. State and Local School System Annual Update The Annual Update provides the following information: • Background information • Information on funding/grants • Ongoing state and local needs • Data collected through the Maryland Pre-Graduate Survey • Descriptions of all programs at the elementary, middle and high school levels For more information please visit: http://msde.state.md.us/fle/

  7. Professional Development Professional Development is provided to teachers through face-to-face and online formats: • Face-to-face training is conducted annually for new and returning elementary, middle and high school teachers • Online training is provided through bi-annual webinars and an online video series

  8. Additional School System Support MSDE and the Maryland Higher Education Commission (MHEC) have partnered to: • Improve career and academic advisory models at the school and school system levels • Provide targeted professional development to teachers on financial literacy education • Develop a series of lessons that support a culture of continuing education

  9. Additional School System Support MSDE and the Maryland Department of Disabilities (MDOD) have partnered to: • Develop a series of lessons which discuss receiving from government programs and public assistance • Record instructional videos for teachers to better understand the myths and facts about receiving from government programs

  10. Future Projects Race To The Top (RTTT) Project 4/3: Curriculum and Formative Assessment Development: • Develop an online course in personal financial literacy education for high school students • The course will become part of the Maryland Virtual Learning Opportunity

  11. MSDE Financial Literacy Website Information available through http://msde.state.md.us/fle/: • General information • Instructional resources for parents, students and teachers • All publications including: • The Maryland State Curriculum for Personal Financial Literacy • Annual State and Local Financial Literacy Education Report • Financial Literacy Flyer • Maryland Classroom Article

  12. Contacts

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