Legislation For A Smarter TexasLaura Ewing, PresidentCindy Manzano, Smarter Texas DirectorCatherine Rinhart, Program DirectorDebbie Mackey, Stock Market Game™ DirectorTexas Council on Economic Education1801 Allen ParkwayHouston, TX 77019www.economicstexas.orgwww.smartertexas.org

Texas One of Only 22 States… To require that seniors pass

Economics for graduation.

The senior level course is known as Economics With Emphasis on the Free Enterprise System and Its Benefits

Economics With Emphasis on the Free Enterprise System and Its Benefits Personal Financial Literacy (PFL)

Standards/Student Expectations added to Texas Essential Knowledge and Skills (TEKS) in 2010

How To Pay For College Added to TEKS in 2012

Oh Where Are Those Standards?

Smartertexas.org and then click on standards

Tea.state.tx.us and click on curriculum and then TEKS

HB 34 College SavingsEconomics: The student understands the role of financial markets/institutions in saving, borrowing, and capital formation.

(A) understand how to complete the Free Application for Federal Student Aid (FAFSA) provided by the United States Department of Education;

(B) research and evaluate various scholarship opportunities such as those from state governments, schools, employers, individuals, private companies, nonprofits, and professional organizations;

(C) analyze and compare student grant options;

Economics PFL TEKS: The Student Understands: 16: types of business ownership 17: the role of financial

markets/institutions in saving, borrowing, and capital formation

18: the role of individuals in financial markets

19: The student applies critical-thinking skills to analyze the costs and benefits of personal financial decisions

20: how to provide for basic needs while living within a budget

Economics: The student understands the role of financial markets/institutions in saving, borrowing, and capital formation.

(D) analyze and compare student loan options, including private and federal loans;

(E) research and evaluate various work-study program opportunities; and

(F) investigate nontraditional methods of paying for college or postsecondary education and training

Center for Public Policy Priorities Published The Cost of College

How Texas Students and Families Are Financing College Education includes:

statistics on the importance of studies beyond high school

Trends in Financial Aid Federal and State Grants and Work Study

programs Financial Aid Challenges and Access Innovations, Best Practices,

Recommendations

Resources for College http://www.tgslc.org/tfaic/ http://www.aie.org/ collegeforalltexans.org http://

library.cppp.org/research.php?aid=1199 The Cost of College: How Texas Students and Families Are Financing College Education

SB 290: PFL In K-8 Math Will take effect 2014-2015 Testing begins 2016 Texas Council on Economic

Education, Opportunity Texas, Raise Texas, Texas Credit Union Foundation and others played a prominent role in the adoption of the standards

Math PFL TEKS Spiraled between grade levels to

scaffold the learning from Kindergarten through Grade 8

Have 58 student expectations on several different PFL concepts

Emphasize decision-making and have real world relevance to prepare students for the 21st century

They provide the tools and strategies to be a Smarter Texan

MATH PFL TEKS: K to 2 K: wants and needs and role of income to

satisfy them 1: distinguish between savings and

spending 2: calculate how money saved can

accumulate over time 2: explain that saving is an alternative to

spending 2: identify examples of borrowing and

distinguish between responsible and irresponsible borrowing

2nd Grade Decision Making on Responsible and Irresponsible Borrowing

I need a pencil. I promise I’ll return it to you. Last time I borrowed your pencil I returned it in about a week. It was chewed on and too small to sharpen anymore.

I only have a quarter and want to buy ice cream with my lunch. I’ve borrowed small amounts of money before and have always paid it back.

I need $1.00 to buy a treat. I’ve never borrowed money from you before. I don’t get an allowance and I don’t do any chores around the house.

Math PFL TEKS Continue 3: List reasons to save and explain the

benefit of a savings plan, including for college

4: Compare advantages and disadvantages of various savings options

4: Describe how to allocate a weekly allowance among spending, saving, including for college, and sharing

5: Begin to work with budgets

Math PFL Grades 6-8 6: Learn about credit reports and

establishing credit 6: Explain various ways to pay for

college 6: Compare salaries of different

occupations and the level of education required

7: Identify components of a budget 7: Calculate and compare simple and

complex interest

Math PFL TEKS Grades 7-8 7: Use a family budget calculator to estimate the

minimum salary needed to live in various places in Texas (Resource: CPPP Family Budget Estimator)

8: solve real world problems by examining cost of credit

8: Calculate cost of repaying various types of loans/credit

8: Explain how savings—including for college-can add up over time

8: Calculate and compare simple and complex interest

8: Estimate the cost of two and four year college education and develop a savings plan

Bridge Math to Economics Students have only received PFL instruction

in the last few years in the 12th grade Economics course which is too little and too late.

Beginning in 2014 students will receive PFL from K to 8 so that spending and saving habits can be adopted at a younger age. Senior economics becomes the culminating learning experience rather than the only learning experience.

Gap: grades 9 to 11? What do we do next?

Current Legislation Reduce testing Some bills will only keep math, reading and

writing testing. If social studies and science are removed from testing, instruction in these courses will be reduced. Social studies includes economics education K to 12.

SS courses teach free enterprise and US democratic system. SB 225 (Kel Seliger, R Amarillo) bill has 5

EOC: Reading, writing, science, math, US history.

How? TCEE Lessons Will Be Online and Free to

All TCUF Sponsoring Grades 4-6 PlainsCapital Bank Sponsoring Grades 7-

8 Seeking Sponsors for Grades K to 3

Textbook Adoption Math: 2014-2015 Social Studies: 2015-2016

Legislation For A Smarter TexasLaura Ewing, PresidentCindy Manzano, Smarter Texas DirectorCatherine Rinhart, Program DirectorDebbie Mackey, Stock Market Game™ DirectorTexas Council on Economic Education1801 Allen ParkwayHouston, TX 77019www.economicstexas.orgwww.smartertexas.org

Legislation For A Smarter TexasLaura Ewing, PresidentCindy Manzano, Smarter Texas DirectorCatherine Rinhart, Program DirectorDebbie Mackey, Stock Market Game™ DirectorTexas Council on Economic Education1801 Allen ParkwayHouston, TX 77019www.economicstexas.orgwww.smartertexas.org