Discover Grant Supports IBAT’s Teach the Teacher Program
The need for financial literacy has never been greater. And, the learning process begins with educating teachers as a necessary first step to helping young people acquire the financial knowledge and skills they need to prepare for successful futures.
To aid in that effort, Discover and PULSE are helping to expand a unique program designed to help teachers throughout Texas improve financial literacy. The Teach the Teacher Program provides Texas middle and high school teachers the knowledge and confidence to teach financial education effectively. It was designed by the Independent Bankers Association of Texas (IBAT) Education Foundation in collaboration with teachers.
Focus on Teachers
Studies indicate Texas has a financial literacy problem. The 2012 National Financial Capability Study conducted by FINRA Investor Education Foundation shows that when asked five questions about basic economic and financial concepts, 67 percent of Texas adults could not answer more than three questions correctly.
Educating teachers is a necessary first step to eliminating gaps in financial literacy among young people. In the 2013-2014 school year, the IBAT Education Foundation’s Teach the Teacher program reached an estimated 60,000 students through the approximately 300 Texas educators who attended the training.
The teachers participated in weekend workshops, where they learned instructional methods to help students grasp the basics of debit cards, credit scores, identity theft, savings and investment strategies and other topics. For 2014, PULSE was proud to help fund stipends for hundreds of teachers who attended the training. PULSE was the founding sponsor of Teach the Teacher and has been involved in the program since its inception.
The program will promote financial literacy to even more Texas students in 2015 thanks to a $75,000 grant from PULSE’s parent company, Discover Financial Services. The grant is part of Discover’s $10 million investment to further financial education in public high schools across the country. PULSE is contributing an additional $25,000 to support the program in 2015.
“We believe that it is impossible to eliminate gaps in financial literacy among young people without first educating teachers,” said Steve Sievert, PULSE Executive Vice President of Marketing and Communications. “Discover is proud to support this critical initiative to provide training to teachers so that their students can gain a greater understanding of personal finance to plan for a brighter financial future.”
These investments in Teach the Teacher are part of Discover’s Pathway to Financial Success program, which is committed to helping the next generation get the financial education they need to make informed decisions about money through grants designed to train teachers, raise awareness of the need for financial education, and by providing additional resources to parents and schools.