Using Historical Comparison to Indicate Likely Impacts of Requiring a Personal Finance Course In South Carolina High Schools
School Name
South Carolina Governor's School for Science & Mathematics
Grade Level
12th Grade
Presentation Topic
Consumer Science
Presentation Type
Mentored
Abstract
My research explores the effects and overall outcomes of implementing a full credit personal finance course into the South Carolina high school requirements. By comparing South Carolina with US states that have implemented the credit in the past and realizing the process of implementation, it is possible to estimate the direct effects of the class. The direct benefits include an increase of state average credit score by between 2% and 5% and a decrease in the 90+ day delinquency rate by 1% to 6%. The predicted cost of implementation is a $5 million increase in tax expenditures. Other costs may be an increase in teacher training, a decrease in elective class opportunity and an increase in course failure rate. With this research for the state of South Carolina and future research, policymakers will be able to know whether a full credit personal finance class is an investment worth making.
Recommended Citation
Griswold, Charles, "Using Historical Comparison to Indicate Likely Impacts of Requiring a Personal Finance Course In South Carolina High Schools" (2020). South Carolina Junior Academy of Science. 135.
https://scholarexchange.furman.edu/scjas/2020/all/135
Location
Furman Hall 118
Start Date
3-28-2020 11:30 AM
Presentation Format
Oral Only
Group Project
No
Using Historical Comparison to Indicate Likely Impacts of Requiring a Personal Finance Course In South Carolina High Schools
Furman Hall 118
My research explores the effects and overall outcomes of implementing a full credit personal finance course into the South Carolina high school requirements. By comparing South Carolina with US states that have implemented the credit in the past and realizing the process of implementation, it is possible to estimate the direct effects of the class. The direct benefits include an increase of state average credit score by between 2% and 5% and a decrease in the 90+ day delinquency rate by 1% to 6%. The predicted cost of implementation is a $5 million increase in tax expenditures. Other costs may be an increase in teacher training, a decrease in elective class opportunity and an increase in course failure rate. With this research for the state of South Carolina and future research, policymakers will be able to know whether a full credit personal finance class is an investment worth making.
