Study gives South Dakota 'F' in personal finance education

MGN Online

(KSFY) - A new analysis has given South Dakota a failing grade when it comes to providing education about personal finance.

The state received an "F" in the 2017 study by the Champlain College's Center for Financial Literacy.

Researchers say the study grades states on their education requirements for teaching personal finance and economics courses at the high school level. The analysis, called “Is Your State Making the Grade? The 2017 Report Card on State Efforts to Improve Financial Literacy in High Schools," comes out every other year.

John Pelletier, the director of the study, noted that while South Dakota has created programs that promote financial literacy, many students do not receive exposure to the subject. South Dakota could dramatically improve its grade if it required economics course to include personal finance, Pelletier said.

South Dakota joined the District of Columbia, Alaska, California, Connecticut, Delaware, Hawaii, Massachusetts, Pennsylvania, Rhode Island and Wisconsin in receiving a failing grade.

Pelletier also noted a study by Next Gen Personal Finance that found students from wealthy communities are more likely to have personal finance education than students in poor communities.

You can find the full analysis of the study here.