AASCU HONORS WORK OF STATE COLLEGES AND UNIVERSITIES WITH 2018 EXCELLENCE AND INNOVATION AWARDS
Thursday, August 16, 2018
AASCU STATEMENT ON THE SUPREME COURT’S RULING UPHOLDING TRAVEL BAN
Tuesday, June 26, 2018
AASCU’S 2018 MILLENNIUM LEADERSHIP INITIATIVE INSTITUTE TO FOCUS ON HOW TO STRATEGICALLY LEAD A UNIVERSITY IN TIMES OF CHANGE
Thursday, May 24, 2018
Top 10 Higher Education State Policy Issues for 2013
The federal government’s 2013 domestic policy agenda will largely be shaped by President Obama’s second term priorities; compromises forged with Congress on taxes; spending and long- run deficit reduction strategies; and responses to national and global economic dynamics. Meanwhile, state governments will undertake issues across the policy spectrum, but will likely focus on policies and programs aimed at economic development and spurring job creation. Also occupying their time will be implementation of the Affordable Care Act and addressing structural budget imbalances in the aftermath of what has been the longest post- recession recovery since the Great Depression.
Boosting Financial Literacy in America:
Financial illiteracy is a growing economic and social concern garnering greater attention from consumer advocates, scholars, governmental agencies and policymakers. Despite the rapidly changing, increasingly sophisticated array of financial decisions confronting Americans today, there still exists widespread levels of financial illiteracy—especially among low-income and minority populations. This divergence between more complex consumer decisions and financial illiteracy has led to a rising trend of suboptimal, often unsustainable consumer behaviors, resulting in record-high levels of debt and record low-levels of economic security for individuals, families and communities throughout the nation.
The Government Accountability Office (GAO) defines financial literacy as “ . . . the ability to make informed judgments and take effective actions regarding the current and future use and management of money.”1 Individuals should be empowered with the basics of finance and economics so that they will make appropriate choices based on their needs and budget parameters. This will help consumers make informed decisions, but may not prevent them from making unbiased or even imprudent choices.
Studies of consumer knowledge, such as the Jump$tart Coalition’s survey on “The Financial Literacy of Young American Adults,” have revealed that many Americans lack an understanding of the most rudimentary financial concepts, principles and practices. This widespread lack of financial understanding has made millions of consumers susceptible to misleading and fraudulent business practices. It has also contributed to national economic predicaments, such as the extensive consumer overleveraging that led to the subsequent economic downturn in the latter part of the last decade.