As part of an ongoing effort to mark national Financial Literacy Month, the U.S. Department of Education and the U.S. Department of the Treasury announced that Education Secretary Arne Duncan and Treasury Deputy Secretary Neal Wolin will recognize high-scoring students in the National Financial Capability Challenge on Thursday, April 21, at 11 a.m. EDT at an awards ceremony in Washington, D.C.
The Challenge, which includes a voluntary online exam for high school students, helps teach young Americans about saving, budgeting, investing and other important skills critical to building a strong financial future. From saving for college to managing expenses like cell phones, the exam tests a wide array of topics that together constitute a basic understanding of personal finance.
The ceremony will take place at a public meeting of the President’s Advisory Council on Financial Capability at the U.S. Department of Education. President Obama created the President’s Advisory Council on Financial Capability to promote and enhance financial literacy and capability among the American people. The Council is tasked with a number of important charges, including advising the President on financial education efforts; promoting financial products and services that are beneficial to consumers, especially low- and moderate-income consumers; and promoting understanding of the effective use of such products and services.
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