FLORENCE, Ala. (WHNT) – A recent study has been released which gives Alabama schools an “A” for teaching students about personal finance.
Composed by Champlain College’s Center for Financial Literacy, Alabama is among five states in the 2015 Report Card on State Efforts to Improve Financial Literacy in High Schools to receive the “A” rating.
There’s a school system in the Shoals which goes one step further with financial literacy and has brought banking to the high school.
Among the chaos of a high school lunch period, there is more than just eating and cramming for tests going on. Students at Florence High School are getting an education on personal finance.
The school system teamed up with First Metro Bank to offer a branch specifically designed for students and run by students.
“It’s really helped me to do my own managing of my own money, so that when I graduate, I will have some understanding of the value of a dollar when I go to college,” explained student and head teller Brook Murgatroyd.
School administrators said it’s been a huge success among students and teachers.
The bank branch goes along with teaching students about financial responsibility in the classroom.
The Alabama Department of Education instituted a mandatory personal finance course three years ago.
It gives students like Keandrea Rowell life experience.
“You don’t want to spend money that you don’t have, because you have to give it back,” stated Rowell.
Combined, educators said the students are getting some need-to-know life skills to prepare them for the road ahead.
The bank branch is only for students and faculty of Florence High School. Students operate the bank during normal lunch hours only.