(BPT) - Studies show that financial literacy classes help students learn to save, and that over half of the students with financial literacy education spend less than their income. In fact, individuals who participate in education programs increase their savings rates by 22%1. But currently, less than half of states in the nation require high school students to complete a personal finance course, leaving nearly 80% of students without access to foundational knowledge.2
To help bridge the financial literacy gap, Capital One is partnering with Khan Academy on a new, financial literacy course, providing free, mastery-learning classes on subjects like budgeting and saving, consumer credit and setting financial goals.
1 The Journal of Consumer Affairs, Vol. 39, No. 1: Building the Case for Financial Education
2 NGPF’s 2022 State of Financial Education Report