Counting Pennies: A new PISA report compares students’ financial know-how

This blog is written by Wikichild co-ordinator Melinda Deleuze. The post presents findings from the latest PISA report, highlighting the links between students' financial literacy levels and their socio-economic background. It is a part of the Wikiprogress spotlight on Education and Skills.
The importance of financial literacy among young people is growing, as more adolescents have access to financial services, have their own bank accounts, make independent financial decisions, and are often in paid employment as well as school. More than ever, the ability of students to manage their finances is central to their immediate and future well-being. Furthermore, rising tuition costs, and the increasing burden of student debt, is a major issue in countries around the world. Earlier this year in Chile, an activist burnt student debt papers worth $500 million in protest of widespread student poverty. Financial literacy is therefore of key importance, not just at the individual level, in terms of enabling young people to avoid or minimise debt or to plan for a more financially-secure future, but also at the societal level. More...