State Treasurer celebrates Get Smart About Credit Day in Horry County Schools

MYRTLE BEACH, SC – South Carolina State Treasurer Curtis Loftis is celebrating national Get Smart About Credit Day on October 20th.  Treasurer Loftis says he is proud to highlight the success of the Future Scholar Financial Literacy Program and stresses the importance of teaching young South Carolinians essential financial skills early.  “We are proud to bring this critical financial education to elementary students across South Carolina,” said Treasurer Loftis. “Through online simulations and gaming, the Future Scholar Financial Literacy Program will help set our students on a path to financial security and a successful life. It’s so important for students to start saving for their futures early.” According to data from the credit rating agency, TransUnion, the average credit card debt for a South Carolinian is $5,600 and the average household debt is $46,000, as reported in a study by the Urban Institute.

During the 2015-2016 school year, 4 schools in Horry County adopted the Future Scholar Financial Literacy Program with 626 students. Of the 98 schools participating in the program this past academic school year, Forestbrook Middle, Kingston Elementary, Myrtle Beach Middle, and St. James Middle utilized the program in Horry County. Students’ knowledge of key financial topics rose by an average of 36% based on pre- and post-assessment scores. Among the valuable topics covered were credit and borrowing, income and careers, and insurance and safety.  Students from the 98 schools received the most knowledge gain in Responsible Money Choices and Making Plans with Money.

“I feel like I am better prepared for the future. I realized the money I spent on stuff that I didn’t really need could go toward my college fund,” said an elementary school student using the program.

Treasurer Loftis, in partnership with South Carolina’s 529 College Savings Plan, SC Economics and leading education technology company EverFi, Inc., brought the free, interactive, web-based financial management program to over 5,490 South Carolina students in the 2015-2016 academic year. Treasurer Loftis is already expanding the program into more schools for 2016-2017.

-This is from a Press Release.