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Managing Money — Local high school students take financial literacy course

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Pocatello High School teacher George Asboe, second from left, stands with a handful of the first-trimester graduates of the EverFi Financial Foundations financial literacy program sponsored by Citizens Community Bank. From left are Jacob Zerba, Jose Rosas, Tanner Wrigley (back), McKynzie McCrady (front), Savannah McGonigal, Kelsi Shawcroft and Deina Rodriguez. (Submitted Photo)

Pocatello High School teacher George Asboe, second from left, stands with a handful of the first-trimester graduates of the EverFi Financial Foundations financial literacy program sponsored by Citizens Community Bank. From left are Jacob Zerba, Jose Rosas, Tanner Wrigley (back), McKynzie McCrady (front), Savannah McGonigal, Kelsi Shawcroft and Deina Rodriguez. (Submitted Photo)

By Vanessa Grieve
vgrieve@journalnet.com

POCATELLO — A new financial literacy course at Pocatello High School is preparing students for their transition into adulthood by using an interactive web-based format.

The Financial Foundations program produced by EverFi at PHS is sponsored by the Citizens Community Bank in Pocatello. The course takes students through a number of web-based modules using real-world scenarios.

These include key financial concepts such as saving, banking, interest rates and credit cards, as well as credit scores, financing higher education, and renting versus owning, in addition to taxes, insurance, fraud and others.

“The courses featured interactive lessons, games, and story-based activities that challenged (students) to make choices in real-life scenarios to best achieve important goals around saving and job planning,” said Citizens Community Bank President Amy Rhoads.

The first group of juniors and seniors at PHS who took and completed the course received certificates and money toward their first savings account. They also celebrated with a pizza party on Dec. 11 in the school’s Media Center.

Pocatello High School social studies teacher George Asboe began using the program in his economics course this fall. Asboe’s excited about the program because students can work at their own pace and digest the information on their own terms.

“They don’t have some adult teacher telling them how to run their money,” Asboe said. “It’s a good preparation to see some of the things that are coming down the road.”

Making the Financial Foundations program a central part of the Economics course, which is a required class for graduation, ensures that students can learn pertinent financial information.

Asboe said that financial literacy in the classroom was previously more theoretical. He believes this program changes that method and offers an engaging, contemporary look at finances for the millennial generation.

“It’s going to be a linchpin of the curriculum,” Asboe said.

PHS Principal Lisa Delonas said between 80 and 90 students started the coursework and about half completed it to earn certification. The school anticipates students will have enough class time to complete the modules during future economics courses, after assessing incorporation this past fall.

The school plans to host graduation parties for students who complete and certify in the program. The long-term goal is to see students make better financial decisions that will help them be more successful.

“Our goal is that is if we recognize it then … celebrate, more kids will want to take that test and earn that certificate,” Delonas said.

Asboe, who’s taught at Pocatello-Chubbuck School District 25 for two years, said the Financial Foundations program has about nine web-based modules that can each take between 15-40 minutes for students to work through.

Modules begin with a pretest to assess a student’s understanding of a particular concept, followed by learning activities and animation. In a life game, students face scenarios and have to make decisions and see the results. Modules conclude with a post-test. Students cans also revisit different sections of the modules.

Traditional high school economics courses have taught how to write a check and balance a checkbook. But that may seem obsolete to many 17-year-olds who are equipped with plastic payment cards and a cellphones, Asboe said. Having a relevant curriculum to help prepare many students is key.

“We legitimately have kids that for all intents and purposes are on their own, and even for some of them are the head-of-the-household,” Asboe said. “It’s important to try to get them a mature outlook as they face … where their money is going and how it is moving around.”

Asboe has received positive feedback from a couple of parents and students about the program.

A Financial Industry Regulatory Authority-funded study released in February 2015 found that students who received rigorous financial education in high school saw increased credit scores and decreased chances of credit delinquency as young adults, compared to their peers who did not receive financial education. (Submitted Photo)

A Financial Industry Regulatory Authority-funded study released in February 2015 found that students who received rigorous financial education in high school saw increased credit scores and decreased chances of credit delinquency as young adults, compared to their peers who did not receive financial education. (Submitted Photo)

Citizens Community Bank is a Division of Glacier Bank, which began offering its Financial Foundations programs in late-2014 in partnership with EverFi. Since then, more than 1,758 students have utilized the program.

“We hope students come away from the program with an understanding of these financial concepts and have the ability to make decisions for their future,” Rhoads said. “Our hope is to also engage their parents and/or guardians to start a dialogue surrounding financial management issues within their families.”

Rhoads is excited to see students grow through these programs and aims to provide support as they transition into the adult world.

“Citizens Community has been a great school partner,” Delonas said. “They’ve funded the program. It’s an expensive program to have. … They are the ones that chose Pocatello High School and sponsored us. And they’ve been supportive and helpful, and willing to come in and speak and help the kids.”

The fall semester program kicked off with a tour of Citizens Community Bank downtown. Asboe said he hoped the tour would help students who haven’t had much experience with financial institutions feel less intimidated about starting to bank or seek financial advice.

“Our goal is to hit home runs and get a lot of kids (educated) with a background in financial literacy,” Asboe said.

Citizens Community Bank is also sponsoring the program at Central High School in Rexburg.

“We have always believed financial literacy was an important concept to be taught in the schools and through community groups and programs,” Rhoads said. “Our employees have volunteered to help teach these concepts through any available opportunity over the years.”

Citizens Community Bank has modules available for grade school, middle school and high school, in addition to their financial literacy program for adults.

The adult financial literacy courses are available on their website at https://atwork.everfi.net/ccb/login.

Locally, The adult program has been offered to the Southeastern Idaho Community Action Agency, United Way, Eastern Idaho Technical College, Idaho State University, Partners for Prosperity, NeighborWorks Pocatello and many other community organizations.

In April 2015, Citizens Community Bank was honored with the “Innovation in Financial Education Award” from the Nasdaq Stock Market Co. and EverFi.


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