BOSTON, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Tyton Partners, a strategy consulting and investment banking firm focused on the education sector, announced today the results of its latest report, Investing in Tomorrow: Lifetime Value of Financial Education in High School. The report, which was done in collaboration with Next Gen Personal Finance, the leading financial education non-profit in the United States, found that there is a lifetime positive benefit of approximately $100,000 per student from guaranteeing that a high school student takes a one-semester course in personal finance.
This determination is particularly important because, in March 2023, only 24% of United States high school students were guaranteed that they would take a one-semester course in personal finance. The report illustrates that guaranteeing personal finance education in high school can positively impact each state’s economic development and shape the financial landscape of future generations.
Key findings of Investing in Tomorrow include:
- Personal finance education has a transformative impact throughout a student’s lifetime, positively influencing a wide variety of outcomes, including credit scores, debt management, and retirement savings.
- Taking a one-semester course in personal finance results in an average per-student lifetime benefit of approximately $100,000, while the cost for implementing a standalone course can be kept low given the availability of high-quality curricular resources and teacher professional development made available by providers at no or minimal cost.
- To maximize the impact of personal finance education in high school, implementation is critical. It requires timely and comprehensive curriculum standards, teacher preparation through high-quality professional development, and flexibility in graduation requirements from state and local agencies.
Tim Ranzetta, Co-Founder of Next Gen Personal Finance, which collaborated on the report, noted that "Personal finance literacy is the cornerstone of a resilient and empowered society. When students take a course in personal finance, it not only sets them up for their financial future but results in so many positive behavioral outcomes as well. This report sheds light on the pivotal role personal finance education in high school plays in shaping the future success of individuals, families, and local economies."
The Financial Industry Regulation Authority (FINRA) reports that 66% of Americans are deemed financially illiterate, leading to real and damaging consequences such as debt and poor financial planning. The report highlights that investing in financial education has a major impact, equipping students with the knowledge and skills needed for a more financially literate and resilient society.
Investing in Tomorrow calls for a paradigm shift in education policy, advocating for statewide mandates for standalone, semester-long personal finance courses. The undeniable correlation between personal finance education and overall well-being underscores the need for a comprehensive approach, laying the foundation for a generation capable of navigating life's financial complexities with confidence and competence.
Read Investing in Tomorrow: Lifetime Value of Financial Education in High School here.
About Tyton Partners
Tyton Partners is the leading provider of investment banking and strategy consulting services to the global knowledge and information services sector. With offices in New York City and Boston, the firm has an experienced team of bankers and consultants who deliver a unique spectrum of services from mergers and acquisitions and capital markets access to strategy development that helps companies, organizations, and investors navigate the complexities of the education, media, and information markets. Tyton Partners leverages a deep foundation of transactional and advisory experience and an unparalleled level of global relationships to make its clients' aspirations a reality and to catalyze innovation in the sector. Learn more at www.tytonpartners.com.
About Next Gen Personal Finance
Next Gen Personal Finance (NGPF) is a nonprofit committed to guaranteeing that all high school students receive a personal finance course prior to graduating. NGPF has become the number one source for nearly 100,000 educators looking for high-quality, engaging personal finance curriculum to equip students with the skills they need to thrive in the future. NGPF invests in teacher professional development with live Virtual Professional Development, 10 Certification Courses, and 40+ asynchronous On-Demand modules. NGPF provides its curriculum and professional development at no cost and is primarily endowment funded. NGPF has been recognized by Common Sense Education as a "Top Website for Teachers to Find Lesson Plans" and "Best Business and Finance Games" and also named NGPF a "Selection for Learning." Visit ngpf.org for more.
