John Pelletier on CBS News: Financial Literacy Requirements

“If a young person understands how to maximize their credit score, so they get lower interest rates on credit cards, on automobile loans, on their mortgages, that could literally save them more than $100,000 in lifetime interest payments,” Pelletier told CBS News during this special segment of their “Eye on America” series.

Luckily, Champlain College students learn these skills as part of the College’s financial literacy requirement. Our InSight Program—which focuses on career preparation, personal finance, and wellbeing—sets students up for success and provides a multi-year education on these crucial topics. Students learn how to check their credit score and manage important concepts like budgeting, debt, investing, and more.

Thanks to Pelletier and the Center for Financial Literacy, Vermont middle and high school educators can learn how to bring these topics into their own classrooms through a two-month graduate-level course.

“While 85% of high schoolers nationwide say they want to learn about financial topics, according to business software company Intuit, only 10 states require such a course, according to Champlain College’s Center for Financial Literacy. But by 2031, that’s expected to jump to 26 states,” the CBS News article states.

Bringing this education into Vermont classrooms will help Vermonters better understand financial concepts early on, allowing young students to be mindful contributors to the local economy, encourage them to bring entrepreneurial ideas to life, and help create a pipeline of career-driven individuals ready to take the next step and further Vermont’s workforce.

Watch the full CBS Evening News story to see Pelletier provide perspective on the national need for personal finance education. See how teenagers are actively taking what they learn and putting the teachings into action: starting their own businesses, making smart decisions when it comes to spending and earning, and beyond.