Title

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.

Location

Furman Hall 118

Start Date

3-28-2020 11:30 AM

Presentation Format

Oral Only

Group Project

No

COinS
 
Mar 28th, 11:30 AM

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.