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Financial literacy program now part of basic curriculum


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rainymike

This is one educational reform that is sorely needed in this country. 

 

http://www.mb.com.ph/financial-literacy-program-now-part-of-basic-curriculum/

 

 

Financial education subjects will be part of the basic education curriculum with the nationwide implementation of the Senior High School (SHS), the Department of Education (DepEd) announced.

 

According to DepEd, Filipino students will soon get an early start in financial literacy and SHS students will have “learned financial management and investment by the time they graduate.”

 

 

As a member of the National Strategy for Financial Inclusion (NSFI) steering committee, the DepEd takes on various initiatives that include a financial literacy program for the first two batches of SHS graduates. First is the integration of financial education and consumer protection in its K to 12 curriculum –a training program on financial literacy especially designed for teachers, and second, a financial inclusion mechanism for students and schools in urban and remote rural areas.

 

The NSFI is a multi-agency initiative aiming toward financial inclusion through policy and regulation, financial education and consumer protection, advocacy programs, and progress monitoring.

 

Expecting to have employable high school graduates in two years, DepEd Undersecretary for Curriculum and Instruction Dina Ocampo said that it is “timely and important to begin the department’s involvement by developing a series of financial literacy modules for SHS students.” These modules, she noted, are to be implemented in one or two-hour sessions once a week. She noted that directly benefiting from this would be the graduates who decide to start a business or pursue employment after high school.

 

The DepEd’s financial education curriculum will be based on the Organisation for Economic Co-operation and Development’s (OECD) Programme for International Student Assessment (PISA) financial literacy assessment framework. It will be integrated into the K to 12 subjects that teach the related competencies, such as Edukasyong Pantahanan At Pangkabuhayan (EPP) and Technology and Livelihood Education (TLE).

 

The OECD-PISA framework suggests that financial education should be introduced to learners early on, starting with values formation on money, saving, and the rewards and risks in making monetary decisions.

 

The training then escalates to concepts of budgeting, financial products, investment, and setting financial goals.

 

Other members of the NSFI Steering Committee are the Bangko Sentral ng Pilipinas (BSP), Cooperative Development Authority (CDA), Department of Budget and Management (DBM), Department of Finance (DOF), Department of Social Welfare and Development (DSWD), Department of Trade and Industry (DTI), Insurance Commission (IC), National Economic and Development Authority (NEDA), National Youth Commission (NYC), Philippine Deposit Insurance Corporation (PDIC), and the Securities and Exchange Commission (SEC).

Edited by rainymike
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