Taking a financial education class in high school does pay off.
In fact, there is a lifetime benefit of roughly $100,000 per student from completing a one-semester course in personal finance, according to a recent report by consulting firm Tyton Partners and Next Gen Personal Finance, a nonprofit focused on providing financial education to middle and high school students.
Much of that financial value comes from learning how to avoid high-interest credit card debt and leveraging better credit scores to secure preferential borrowing rates for key expenses, such as insurance, auto loans and home mortgages, according to Tim Ranzetta, co-founder and CEO of Next Gen.
"Students bring these lessons home," Ranzetta said.
"When you take that $100,000 in savings and multiply it across families and communities, it's an incredible economic engine."
Persons:
Tim Ranzetta, Ranzetta, isn't, Kerri Herrild
Organizations:
Tyton Partners, Finance, Biden, De Pere High School
Locations:
Wisconsin