To support new Md. state financial literacy requirements and fill a void of limited resources at the middle school level, Junior Achievement of Central Maryland (JACMD) has launched JA Finance Park – a comprehensive economics education program that will reach more 10,000 middle grade students during the 2011-2012 school year. JA Finance Park has already begun system-wide implementation in Baltimore City Public Schools, Howard County Public Schools, Kent County Public Schools, and the Archdiocese of Baltimore. JACMD will expand the program as additional counties and schools show interest.
“Today’s young people need a strong foundation for making intelligent, lifelong personal financial decisions,”said Jennifer Bodensiek, president of Junior Achievement of Central Maryland. “To improve the financial literacy of our youth - our future leaders and employees – we are excited to introduce JA Finance Park, an exciting reality-based learning environment for middle school students.”
Program Need:
In June 2010, the Maryland State Department of Education (MSDE) adopted regulations requiring local school systems to implement financial education standards for grades 3-12 beginning September 2011. The new regulation is un-funded, and each school system must determine the best implementation model for their teachers and students.
As a member of the MSDE Financial Literacy Standards Design Team and the Advisory Council, JACMD has been closely involved in all aspects of this new requirement from the state level, as well as the local school level.
“JA Finance Park represents the kind of innovative solutions we need to support our schools and students as they implement the Maryland State Department of Education’s financial literacy education curriculum,” said Bernard J. Sadusky, Ed.D., Maryland State Department of Education’s interim state superintendent of schools.
“The program engages and excites students, leading to stronger critical thinking and decision-making skills while helping schools meet the new standards. “
Program Overview
Overall, JA Finance Park teaches the following concepts and skills:
- Credit and Debt
- Saving and Investing
- Taxes, Income and Social Security
- Pricing Research
- Planning: Budgeting and Money Management
- Career Goals
After 19 teacher-led sessions, the program culminates in an online personal finance simulation where students apply learned concepts in a life-like “virtual” community. Upon entering JA Finance Park:Virtual, students are assigned a unique “life situation,” which details their adult persona, including marital status, number of children (if any), education, employment and income.
Teachers, parents and local business people mentor students as they use bank services; contribute to charities; purchase housing, transportation, furnishings, food, health care and other expenses; make investment decisions, create a spending plan, and balance their personal budgets.
Through these activities, students begin to understand the value of money, and make the connection between hard work, education and their future earnings.
For more information about JA Finance Parkor details on additional sponsorship opportunities, including a presenting sponsorship opportunity, contact JACMD Development Vice President Kaitlin Bowman at kbowman@jamaryland.org, or call 443-394-7211.
Also see:
- Junior Achievement of Central Md. introduces newest board members
- Junior Achievement of Central Md. welcomes 2 new vice-chairs
- Junior Achievement of Central Md. appoints new Board Chairman
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(sources: jamaryland.org, Lawrence Howard & Assoc.)
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