Monday, April 2, 2012

You Call This Financial Literacy?

The Department of Education is celebrating "National Financial Literacy Month." This is a very thin post without much information, but yet it is fairly disturbing.

There is only one specific source given to get financial information, and that is the twitter account for FAFSA, FREE Application for Federal Student Aid. Here is their citing and list of topics:
Over the course of April, you can follow @FAFSA for information and resources on being financially savvy at all stages of your education.
Here are some topics we’ll discuss:
    • Types of financial aid
    • Comparing financial aid packages
    • Completing the FAFSA
    • IRS Data Retrieval Tool
    • Maintaining your financial aid
    • Keeping track of your student loans
    • Know what you owe
    • Flexible repayment options
The only specifics that the Department of Education mention is how to get financial aid ( loan )? Teaching someone how to go into hock is NOT a responsible thing to do.

I do hope that there will be some additional information to come. I hope there will be some promotion of going to school part time while working so that you pay as you go. You know, completing a degree without owing any money. Maybe information about investing money or setting up a retirement fund. But please, let us hope that their idea of financial literacy is not how to fill out a form to get a loan.

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