FROM THE OFFICE OF PUBLIC AFFAIRS

January 28, 2005
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Deputy Assistant Secretary Iannicola Teaches Personal Finance Skills to Students in Washington D.C. High Schools

Treasury's Deputy Assistant Secretary for Financial Education Dan Iannicola today taught personal finance skills, such as budgeting and managing credit wisely, to students at two Washington, D.C. high schools. Iannicola first taught a financial education lesson to 12th graders at Margaret Murray Washington Career High School, marking Treasury's 100th financial education event in the last twelve months. Iannicola later taught students in the 10th and 11th grades at Theodore Roosevelt Senior High School.

During both lessons, Iannicola emphasized the importance of budgeting and savings. He also explained how the credit reporting system works and how to avoid common credit pitfalls.

"Knowing how to responsibly use credit is an important skill for all Americans. But with high school students we have a unique opportunity to arm them with knowledge before they encounter credit cards, student loans, car loans and all the dangers and opportunities that go along with borrowing," said Iannicola. "Financial education in our schools is the ounce of prevention our young people need, precisely when they need it."

Iannicola praised both Margaret Murray Washington Career High School teacher Aloha Cobb and Theodore Roosevelt Senior High School teacher Gladys Pemperton, who are actively integrating financial education lessons into different subjects with the help and support of financial literacy partner organizations. "Educators like these are an essential link in delivering good financial education programs to our young people," he said.

Established in 1912, the Margaret Murray Washington Career High School vision is to create a curriculum that prepares students for undergraduate study, technical training, or for careers in health, education or food services. Theodore Roosevelt Senior High School provides students who complete the 9th grade a selected course of study in communications, travel and tourism or the 21st Century entrepreneurs academies. Today's financial education lesson at Theodore Roosevelt Senior High School was a collaborative effort with District of Columbia Public Schools and Junior Achievement.

The Department of the Treasury is a leader in promoting financial education. Treasury established the Office of Financial Education in May of 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, homeownership 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.treas.gov/financialeducation

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