FROM THE OFFICE OF PUBLIC AFFAIRS

October 13, 2004
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Treasury Deputy Assistant Secretary Iannicola Teaches Savings and Investment Lesson to High School Students in Weare, New Hampshire

Treasury's Deputy Assistant Secretary for Financial Education, Dan Iannicola, Jr. today taught a financial education lesson on the topic of savings and investment to John Stark Regional High School students in Weare, New Hampshire.  While there, Iannicola also led a financial education roundtable hosted by the New Hampshire Jump$tart Coalition and discussed federal financial education resources, which can be used to integrate personal finance lessons into different class subjects and settings.

John Stark Regional High School students learned basic savings and investment concepts. Iannicola commended New Hampshire school administrators and educators that are working to improve and integrate financial education in their schools.  He also thanked grass roots organizations like the New Hampshire Jump$tart Coalition for supporting these schools in their efforts to improve financial literacy.  "The financial futures of New Hampshire kids are in good hands."  Iannicola continued, "Young people who graduate high school without exposure to financial education risk making costly mistakes as adults.  By contrast, those who are exposed to financial concepts early on can look forward to a more secure, more prosperous future."

While in New Hampshire, Iannicola also addressed the board of the New Hampshire Jump$tart Coalition, a non-profit organization that seeks to improve the personal financial literacy of young people.  Its board members include the State of New Hampshire Insurance Department, the University of New Hampshire Cooperative Extension, New Hampshire Partners in Education, TIAA-CREF and Consumer Credit Counseling of New Hampshire and Vermont, Inc.  Iannicola encouraged their continued commitment to improving financial education in the state.  He also discussed with them Treasury's Office of Financial Education's perspective on the importance of improving financial literacy and how these organizations can continue to expand financial education efforts. 

During the roundtable, Iannicola heard from the participants and learned about their financial education initiatives.  In turn, Iannicola provided the participants with detailed information about existing and new financial education resources available through the federal government, including those offered by the Treasury Department, as well as by nineteen other federal agencies that comprise the Financial Literacy and Education Commission.  First, he urged the participants to visit www.mymoney.gov, which is a new national service launched yesterday by the Financial Literacy and Education Commission.  Second, he urged the participants to consider responding to Treasury's request for public comment on what the national financial education strategy should be.  Finally, he told them about Treasury's new Technical Assistance Center, which Iannicola described as a place where those with an interest in financial education can receive input on program design and available resources, explore partnerships with other organizations and learn about best practices in financial education.  Both the request for public comment and the Technical Assistance Center can be accessed at www.treasury.gov/financialeducation.

The Department of the Treasury is a leader in promoting financial education.  Treasury established the Office of Financial Education ("Office") in May 2002. The Office works to promote access to the financial education tools that can help all Americans make wiser choices in all areas of personal financial management, with a special emphasis on saving, credit management, home ownership and retirement planning.  The Office also coordinates the efforts of the Financial Literacy and Education Commission, a group chaired by the Secretary of Treasury and composed of representatives from 20 federal departments, agencies and commissions, which works to improve financial literacy and education for people throughout the United States.  For more information about the Office of Financial Education visit:  www.treasury.gov/financialeducation.

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