Jump$tart Coalition for Personal Financial Literacy

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The Jump$tart Coalition for Personal Financial Literacy is a US non-profit coalition of national organizations seeking to advance the financial literacy students from pre-kindergarten through to college-aged. The coalition endeavors to provide young people with lifelong financial decision-making skills. By working together with its 150 national partners, the Jump$tart Coalition provides advocacy, research, standards and educational resources. It is headquartered in Washington, DC.[1]

History[edit]

William E. Odom, former Chairman and CEO of Ford Motor Credit Corporation, is credited with the concept that led to formation of the Jump$tart Coalition in 1995. Odom's contribution to the financial literacy effort continues to be recognized through the award that bears his name, the William E. Odom Visionary Leadership Award.[2] H. Randy Lively, former President and CEO of the American Financial Services Association, organized the first meeting of what was then called the "Partnership in Personal Finance and Consumer Credit Consortium."[2] Through the next year, Dr. Lewis Mandell developed the financial literacy survey that is now a hallmark of the Jump$tart Coalition's work.

Students from Bladensburg High School in Maryland helped create the slogan ("Financial Smarts for Students") and logo. In 1997, the Jump$tart Coalition was incorporated with Lively serving as the first Chairman of Jump$tart.[2] He was succeeded in 2008 by Neil Milner, President and CEO of the Conference of State Bank Supervisors, who will serve as Chairman through 2011.[1]

Organization[edit]

The Jump$tart Coalition comprises more than 150 corporate, academic, non-profit and government organizations that, together, provide advocacy, research, standards and educational resources for financial education.[3]

As of November 2013, Laura Levine serves as the president & CEO of the Jump$tart Coalition. Along with Chairman Ted Beck (president and CEO of the National Endowment for Financial Education), the leadership includes Mike Staten, Ph.D., of the University of Arizona-Take Charge Institute, and Maxine Sweet, Experian, who serve as Treasurer and Secretary,respectively.In addition, Loretta Abrams, HSBC, was elected Vice-Chairman of the organization in November 2013.[1]

The Coalition also includes a network of 49 affiliated state coalitions that operate on a local level to promote financial literacy. Most of the state affiliates are modeled after the national Jump$tart Coalition, although some serve a broader target audience and some do not use the Jump$tart name. State coalitions operate under independent leadership and bylaws and are connected to national Jump$tart Coalition through affiliation agreements. State coalitions are run primarily by volunteers, and are assisted by national Jump$tart's four regional consultants.[1]

Work[edit]

The Jump$tart Coalition maintains the National Standards in K-12 Personal Finance Education, which serve as a program-design and evaluation framework for school administrators, teachers, curriculum specialists, instructional materials developers, and educational policymakers.[4] Combined with the Jump$tart Coalition's best practices guidelines, the standards serve as a guide for state and local policymakers in implementing financial education legislation.[1] The Jump$tart Coalition developed the first national conference devoted to classroom teachers of personal finance in 2009.

Financial Literacy Month[edit]

April was first promoted by the Jump$tart Coalition as Financial Literacy Month for Youth and later National Financial Literacy Month to highlight the importance of financial literacy in America. The Jump$tart Coalition, Junior Achievement, and the Council for Economic Education founded “Financial Literacy Day on Capitol Hill” in 2003, which has since been held every April.[5] Financial Literacy Day offers the Capitol Hill community and the public an opportunity to learn about the financial literacy effort and experience educational products from more than 60 sponsors and exhibitors-most of which are Jump$tart partners. Financial Literacy Day marks the culmination of Financial Literacy Month and is one of the Jump$tart Coalition's premiere events.[3]

The Survey[edit]

The Jump$tart Survey of Personal Financial Literacy Among High School Students was first introduced in 1997. Since 2000, the Jump$tart Coalition has administered the survey biennially[6] to determine and better understand the level of financial literacy among high school students. The Jump$tart survey has continued to document low levels of financial literacy among high school students. The 2008 version iteration of the survey extended its reach to college students.[7] In 2010, Jump$tart contracted with an independent researcher to develop "Version 2" of the survey, which will include changes to the survey instrument, methodology, assessment, and communications plan.[3]

The Clearinghouse[edit]

The Jump$tart Coalition maintains the most comprehensive online clearinghouse of financial educational resources for educators, parents, and Pre-K through college students currently available. The clearinghouse offers a wide variety of resources that are both free and available for purchase. The clearinghouse reviews submissions against the six broad categories of the National Standards in K-12 Personal Finance Education for relevancy and objectivity.[3]

References[edit]

  1. ^ a b c d e Jump$tart.org [1]. Retrieved on 2010-6-15.
  2. ^ a b c Jump$tart Coalition About Us Page [2]. Retrieved on 2010-6-16.
  3. ^ a b c d Jump$tart. 2009 Annual Report. Washington, DC: The Jump$tart Coalition for Personal Financial Literacy, 2009.
  4. ^ "Study shows need for teacher training in personal finance", University of Wisconsin-Madison, 2010-6-8. Retrieved on 2010-6-15.
  5. ^ "Financial Literacy Update", US Department of Treasury, Community Affairs, March/April 2009. Retrieved on 2010-6-15.
  6. ^ Ben S. Bernanke. "The Importance of Financial Education and the National Jump$tart Coalition Survey", Washington, DC. 2008-4-9. Retrieved on 2010-6-15.
  7. ^ David Mancl. "Financial Literacy Still Declining among High School Seniors, Jump$tart Coalition’s 2008 Survey Shows", Madison, Wisconsin. 2008-4-10. Retrieved on 2010-6-15.

External links[edit]