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Financial Literacy EducationIn Maryland
History of Financial Literacy Education in Maryland
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Task Force to Study How to Improve Financial Literacy in Maryland
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• Task Force Recommendations
– Develop K-12 Personal Financial Literacy Standards
– Coordinate a Design Team to Create a Systemic Approach to Implementation by Providing Professional Development, Curriculum, & Resources
– Consider Regulations for a K-12 State Curriculum
– Require Reporting from 24 Local School Systems
– Develop a way to Evaluate Local Financial Literacy Programs
Advisory Council and Design Team
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• Advisory Council
– Established an advisory group to engage local representatives from education and financial communities to help guide MSDE’s work
– Co-Chaired by Lynne Gilli and Sheldon Caplis
• Design Team
– Established a design team to develop the Maryland State Curriculum for Personal Financial Literacy Education
– Co-Chaired by Marquita Friday and Luke Rhine
State Board of Education
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• Code of Maryland Regulations (COMAR)
– The State Board accepted the Maryland Curriculum for Personal Financial Literacy Education
– The State Board adopted regulations requiring local school systems to provide all students with an instructional program in personal financial literacy at the elementary, middle, and high school grade levels
– Program certification occurred in September of 2011 and will occur every five years thereafter
– Updates are conducted annually and are reported to the State Board of Education and the State Legislature
The Maryland State Curriculum for Personal Financial Literacy
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1. Make Informed, Financially Responsible Decisions
2. Relate Careers, Education and Income
3. Plan and Manage Money4. Manage Credit and Debt5. Create and Build Wealth6. Manage Risks and Preserve
Wealth
Organized by Gradebands: 3-5, 6-8, 9-12
State and Local School System Annual Update
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The Annual Update provides the following information:
• Background information• Information on funding/grants• Ongoing state and local needs• Data collected through the
Maryland Pre-Graduate Survey• Descriptions of all programs at
the elementary, middle and high school levels
For more information please visit:http://msde.state.md.us/fle/
Professional Development
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Professional Development is provided to teachers through face-to-face and online formats:
• Face-to-face training is conducted annually for new and returning elementary, middle and high school teachers
• Online training is provided through bi-annual webinars and an online video series
Additional School System Support
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MSDE and the Maryland Higher Education Commission (MHEC) have partnered to:
• Improve career and academic advisory models at the school and school system levels
• Provide targeted professional development to teachers on financial literacy education
• Develop a series of lessons that support a culture of continuing education
Additional School System Support
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MSDE and the Maryland Department of Disabilities (MDOD) have partnered to:
• Develop a series of lessons which discuss receiving from government programs and public assistance
• Record instructional videos for teachers to better understand the myths and facts about receiving from government programs
Future Projects
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Race To The Top (RTTT) Project 4/3: Curriculum and Formative Assessment Development:
• Develop an online course in personal financial literacy education for high school students
• The course will become part of the Maryland Virtual Learning Opportunity
MSDE Financial Literacy Website
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Information available throughhttp://msde.state.md.us/fle/:
• General information• Instructional resources for
parents, students and teachers• All publications including:
– The Maryland State Curriculum for Personal Financial Literacy
– Annual State and Local Financial Literacy Education Report
– Financial Literacy Flyer– Maryland Classroom Article
Contacts
Lynne GilliProgram Manager, Career and Technology Education
[email protected] 410-767-0518
Marquita FridayLead Specialist, Career & Technology Education
[email protected] 410-767-0183
Luke RhineSpecialist, Career & Technology Education
[email protected] 410-767-0177
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