Discover Survey Suggests Financial Education Courses Are Helping Americans Become More Confident with their Finances
Riverwoods, Ill. (Thursday, Nov. 1, 2018) – Fifty-nine percent of Americans ages 18-26 who have taken a financial education course believe the lessons will save them more than $10,000 over the course of their lifetimes, according to a new survey from Discover.
Discover released the survey results today in conjunction with Discovery Education as the two companies announced their Pathway to Financial Success in Schools program will be extended to a younger age group: middle school students. The program provides comprehensive financial literacy curriculum free of charge through self-paced modules, classroom activities and family extension activities. The two companies launched a financial education curriculum for high school students last November.
The survey also revealed more than three quarters (78%) of respondents have taken a financial education course at some point in their lifetimes, and 81 percent of those who took a financial education course in college or as adults report feeling somewhat or very confident in their ability to make smart financial decisions.
“It’s encouraging to see younger Americans investing in their financial futures,” says Matt Towson, Director of Community Affairs for Discover. “It’s important to think of new ways to help Americans of all ages become more financially empowered and capable when it comes to their finances so they can take control of their financial future.”
“Our shared goal with Discover Financial Services is to provide immersive and engaging instruction to promote fiscal responsibility among young students,” said Lori McFarling, senior vice president and chief marketing officer, Discovery Education. “We are excited to expand the Pathway to Financial Success program in order to empower the next generation to make prudent and informed financial decisions.”
The survey showed more young consumers (ages 18-22) have taken financial education courses (80%) compared to those just a few years older than them (ages 23-26; 76%), which may suggest more schools may be offering financial education as part of their curriculum compared to a few years ago. Further, knowledge about whether schools are required to offer financial education courses seems to be increasing over time. The survey found 44 percent of consumers ages 18-22 live in a state where schools are required to offer financial education courses to students, compared to 35 percent of consumers ages 23-26.
“It’s exciting for educators to be empowered to teach students financial literacy and healthy money management habits. Through the ‘Pathway to Financial Success in Schools’ program, Discovery Education and Discover Financial Services are providing students nationwide with engaging tools that make it simple to understand how to make smart financial choices in every aspect of their lives,” said Jacqueline Prester, Business and Technology Teacher, Mansfield Public Schools, Massachusetts.
Since its inception in 2017, Pathway to Financial Success in Schools has made a profound impact on high schools across America. It has reached approximately 119,244 students nationwide and continues to empower high school students to achieve better financial futures.
Pathway to Financial Success in Schools resources are available at no cost at pathwayinschools.com and are also available through Discovery Education Streaming. For more information about Discovery Education’s digital content and professional development services, visit discoveryeducation.com. Stay connected with Discovery Education through social media on Facebook, Twitter, Instagram and Pinterest @DiscoveryEd.
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America’s cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation’s leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 190 countries and territories. For more information, visit www.discover.com/company.
About Discovery Education:
Discovery Education is the global leader in standards-based digital content and professional development for K-12, transforming teaching and learning with award-winning digital textbooks, multimedia content that supports the implementation of Common Core, professional development, assessment tools, and the largest professional learning community of its kind. Serving 4.5 million educators and over 50 million students, Discovery Education’s services are in half of U.S. classrooms, 50 percent of all primary schools in the UK, and more than 50 countries. Discovery Education partners with districts, states and like-minded organizations to captivate students, empower teachers, and transform classrooms with customized solutions that increase academic achievement. Discovery Education is powered by Discovery Communications (NASDAQ: DISCA, DISCB, DISCK), the number one nonfiction media company in the world. Explore the future of education at www.discoveryeducation.com.