“[D]ark clouds are forming on the educational horizon that will spell disaster if Congress does not intervene,” the letter said. “Significant revenue shortfalls are looming for local school districts that will exacerbate the disruption students have already faced. Some 40 to 50 percent of school district revenue, in fact, come from local sources that are expected to drop precipitously in the months ahead. This revenue decline will come on top of revenue losses in the months to come from state sources that have been more widely reported. Several big city school districts are now projecting 15 to 25 percent cuts
What Young People Don’t Know About Money Could Hurt Them in This Economic Crash. How Schools Can Help – Inside School Research
About 1 in 5 of the nation’s 15-year-olds don’t have basic financial skills at a time when 33 million Americans are out of work and the economy is expected to suffer continuing shockwaves from the coronavirus for months or years.
The Program for International Student Assessment 2018 financial literacy test, released today, gauged the money smarts of more than 110,000 teenagers in 20 countries and education systems, including the United States. It found U.S. students scored 506 on average on the 1,000-point test, statistically average with other countries in Organization for Economic Cooperation and Development, which runs the PISA.