White House Recognition

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Champlain College’s efforts to increase the financial capabilities of college students and develop additional training opportunities for K-12 teacher training has earned notice in a new report and guide issued by The White House entitled, “Every American Financially Empowered: A Guide to Increasing Financial Capability among Students, Workers, and Residents in Communities.”

John Pelletier, director of the Center for Financial Literacy at Champlain College, attended a Summit on Financial Capability and Empowerment in Washington, D.C., hosted by the White House in early May. He was among some 100 experts from across government, private, education and nonprofit sectors who shared innovative ideas on how to raise Americans’ financial capability, with a particular focus on younger Americans.

The Administration also announced a number of new public-private partnerships across schools and colleges, business, and local government that aim to improve financial literacy and capability for all Americans.

Speakers highlighted information and tools Americans can use to manage their finances effectively. Leaders also outlined a set of set of possible solutions put forth by the President Obama’s Advisory Council on Financial Capability on ways to promote financial education and financial access.

While celebrating model actors and new efforts to promote financial capability among American workers, youth, families, and communities, the Summit presentations encouraged other institutions to make tangible commitments to promote financial capability.

Champlain College was included in a list 10 top universities and colleges across the country, which includes Dartmouth College and George Washington University, as an example of best practices in improving financial literacy.

Specifically, the White House report cited Champlain’s partnership with several Vermont financial institution to increase financial literacy in classrooms, ensure college students graduate with the skills to make sound decisions on credit, spending and investments and help adults navigate difficult financial situations such as buying a home and saving for retirement. The CFL’s work in training K-12 teachers and partnering with a local bank to help college students access and understand their credits scores, was also spotlighted.

In addition to the resource guide, a new, interactive tool for youth and parents to learn important financial lessons from ages 3 to 18+ was officially launched. “Money as You Grow,” created by the President’s Advisory Council on Financial Capability, uses easy-to-understand language and includes behavior-changing activities around 20 key money concepts. It is located at http://www.moneyasyougrow.org/

To see the Financial Capability Toolkits for K-12, community leaders, higher education and employers, see the report  http://www.whitehouse.gov/sites/default/files/final_toolkit_higher_ed.pdf.