The CFPB has released a “youth financial education curriculum review tool” for curriculum developers and educators to use to review financial education materials and determine which curricula best suits their students. The tool is intended to address the needs of the education community which, according to the CFPB, is increasingly recognizing the importance of requiring personal finance education for K-12 students but generally does not feel well-equipped to choose the most promising or appropriate financial education curricula or develop their own curricula.
In its press release about the tool, the CFPB stated that it developed the tool by reviewing relevant literature, analyzing current financial education content standards, and consulting with educators and financial education experts. The tool provides detailed measures and questions for users to use in evaluating the four key dimensions of a financial education curriculum: content, utility, efficacy and quality. The tool is accompanied by a report that includes an overview of each of these dimensions.
We applaud the CFPB for its continuing efforts to improve the financial education of the nation’s youth, a goal that can reap benefits for both consumers and industry.