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Legislation For A Smarter Texas. Laura Ewing, President Cindy Manzano , Smarter Texas Director Catherine Rinhart , Program Director Debbie Mackey, Stock Market Game™ Director Texas Council on Economic Education 1801 Allen Parkway Houston, TX 77019 www.economicstexas.org

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legislation for a smarter texas

Legislation For A Smarter Texas

Laura Ewing, President

Cindy Manzano, Smarter Texas Director

Catherine Rinhart, Program Director

Debbie Mackey, Stock Market Game™ Director

Texas Council on Economic Education

1801 Allen Parkway

Houston, TX 77019

www.economicstexas.org

www.smartertexas.org

texas one of only 22 states
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
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
Oh Where Are Those Standards?
  • Smartertexas.org and then click on standards
  • Tea.state.tx.us and click on curriculum and then TEKS
slide5

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
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
slide7
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
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
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
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
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
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
2 nd grade decision making on 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
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
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
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
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
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 (KelSeliger, R Amarillo) bill has 5 EOC: Reading, writing, science, math, US history.
slide19
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 texas1

Legislation For A Smarter Texas

Laura Ewing, President

Cindy Manzano, Smarter Texas Director

Catherine Rinhart, Program Director

Debbie Mackey, Stock Market Game™ Director

Texas Council on Economic Education

1801 Allen Parkway

Houston, TX 77019

www.economicstexas.org

www.smartertexas.org

legislation for a smarter texas2

Legislation For A Smarter Texas

Laura Ewing, President

Cindy Manzano, Smarter Texas Director

Catherine Rinhart, Program Director

Debbie Mackey, Stock Market Game™ Director

Texas Council on Economic Education

1801 Allen Parkway

Houston, TX 77019

www.economicstexas.org

www.smartertexas.org