PIE: Partnership For Innovation in Education

A Case for Financial Literacy

Posted by P.I.E. | March 30, 2011

Dr. George M. Vredeveld, Alpaugh Professor of Economics at the University of Cincinnati

Our economy’s recovery seems to be moving toward what many call a “new normal.”  Whether this new normal will be better than the old normal will depend on how we approach fixing the problems that caused the recent economic crisis. While people disagree about the causes of our economic problems, one thing is clear:  a very large number of Americans don’t have enough information about personal finance to make good decisions.

Far too many Americans do not understand the basics of personal finance. Researchers from the Federal Reserve Bank of Atlanta, the University of Geneva and Columbia University found that Americans’ understanding of personal finance is so inadequate that even people who were buying homes just a few years ago could not correctly answer the following question: What will a $300 item cost after it goes on a “50 percent off” sale?.  We are now painfully aware that hundreds of thousands of Americans, caught up in the excitement of a housing bubble, signed loan agreements they did not understand and could not afford. We also have learned that far too many people do not know how to develop and maintain a budget, to understand credit, to understand investments, or to effectively use our banking system.

We also have come to the stark truth that uninformed consumers are costly to society as a whole.  The costs of the recent financial and credit crisis, partly driven by bad consumer decisions, have yet to be calculated, yet we know that these costs are enormous.  Just looking at the loss of jobs – 7,740,000 in the U.S. and 411,500 in Ohio since the start of 2008 – gives some indication of the costs inflicted on our citizens.  More than eighty percent of families carry some form of monthly debt which reduces their ability to save for emergencies or purchase health insurance.  Businesses have incurred many billions of dollars in costs because of bankruptcies, home foreclosures and lost worker productivity.

Effective financial education in our schools is an obvious way to remedy this problem of financial illiteracy.  Schools are the context where the basics of financial education should be provided in a consistent manner.  In addition to quality curriculum, teachers need to understand basic financial education. These teachers also must receive training on how to teach personal finance in ways that are engaging to young students.  The business community should be invited to assist schools moving toward a goal of financial education.

Financial literacy is not only needed, it is possible.  It is time to undertake this task.

About the Author

George M. Vredeveld, PhD is the Alpaugh Professor of Economics at the University of Cincinnati’s College of Business and Director of the Economics Center.

Two Minds: Business & Education Work Together at NTN

Posted by P.I.E. | March 18, 2011

Lydia Dobyns, President New Tech Network

New Tech Network President Lydia Dobyns leads a national high school development organization as her encore career. At first, her journey from Silicon Valley executive might seem unusual. However, what started 16 years ago as a parent volunteer stint led to successive education roles that culminated in a complete career change.

Considered a promising, but novice, political candidate, Ms. Dobyns was elected to the area school board.  Becoming versed in education policy, construction bond challenges and spearheading tax levies, she “learned a lot about school finance and the importance to involve all stakeholders in the local community.”   As someone who has always maintained interest in effecting public policy, Lydia began to apply local lessons to a broader education agenda.  Most importantly, she experienced an awakening to the importance of “education’s role in our country, and how important quality education was for the health of every community.”

Convinced that creating highly effective schools was indeed often “about finding adequate sources of funding”, Lydia co-founded a nonprofit organization committed to raise funding for schools.   More than ten years later, the foundation now plays a significant role in providing funds for innovative education programs.

After seeing her own children graduate from middle and high school, Dobyns decided it was time to make a larger impact in education. She joined New Tech Network (NTN) as Chief Operating Officer and was promoted to president in 2010. New Tech Network works nationwide with schools, districts, and communities to develop high schools that fundamentally re-imagine teaching and learning. Through project-based learning, technology that is deeply embedded and a school culture that promotes collaboration and deeper learning skills like critical thinking and communication, Dobyns realized she had the opportunity for large scale change.

Much like her own career, NTN straddles both the education and business worlds, offering project-based learning incorporating multiple (and sometimes competing) viewpoints.   Students are required to think outside typical parameters, and practice their theories in real-time settings. At New Tech, students work in groups and present findings to teachers as well as community members just as they would in a business setting.

Touted as a 21^st century learning network, NTN serves as a consulting organization providing training, coaching, and an online learning platform to a designated schools. Hired by thea school district, NTN helps with implementation of the New Tech school model, and advises on administrator and teacher roles, classroom layout, instructional format and technology parameters.  Even before New Tech helps to establish a school, Ms. Dobyns noted that a school needs “champions who can establish widespread community support among business leaders, teachers, administrators, parents, and students.”

New Tech classrooms and teachers adhere to rigorous, project-based curriculums. Typically, classes are team-taught with 60-70 students in double size classrooms. Teachers act as facilitators and collaborate to team- teach subjects such as science and language arts.  Kids work in groups and collaborative teams, offering solutions to real-world problems.

Yet with all these changes, does NTN help facilitate academic achievement and career readiness?  After 14 years of operation and data collection, the results are promising.  With 62 schools now operating as New Tech models, graduation data from the first school, established in 1996, indicate an average of 98%, compared to the average 68% high school graduation rate.

As with all re-design efforts, the investment to transform schools is significant. Currently, it costs about $125,000 a year for the initial 4-year implemention. As the New Tech Network grows, the cost to stay connected is expected to decline.

How does Ms. Dobyns discern the NTN future? She believes a primary focus lies beyond physical plant and school site requirements.  New Tech Network’s learning management system is designed to support project-based learning (PBL), facilitate communication and collaboration, and improve teacher practice. Using a unique software and curriculum platform, New Tech foresees the opportunity to reach entire districts.  With a centralized in-house school district presence, new Tech can provide targeted solutions for administrators with flexibility and measureable success.  For instance, NTN has a high success rate with facilitating and broadening STEM-focused programs and other value-added portfolio programs.

Combining her business and education experience proved a successful marriage for Lydia Dobyns.  The goal remains in teaching NTN students the same skills that provide opportunities in seemingly “unlikely” places.  As Ms. Dobyns confides, such “opportunities grow entrepreneurs” and “provide long-term economic insurance in an increasingly competitive global market.”   Classroom volunteers anyone?

About the Author:

Lydia Dobyns has combined careers as a technology entrepreneur and executive with education policy and non-profit service. She served two terms as a school board member, led an education foundation and directed replication strategies in the education sector. As President of New Tech Network, she oversees the organization’s strategic direction, school development and operations. Among the chief initiatives for New Tech are expanding its network of 62 high schools and further development of the learning management platform, NTN Echo. Lydia’s career includes work in the high technology, online services and consumer products industries. She graduated with a B.A. in English from the University of California, Berkeley.

Tap Young Teachers For Innovation In Schools

Posted by P.I.E. | March 10, 2011

Mary Welsh Schlueter, PIE Founder and Chief Executive

Giggling babies, toddlers playing on carpeted steps, and fidgeting parents waiting their turn at the microphone. It’s not the typical crowd waiting to speak at CPS Board of Education meetings. But with schools fighting for more space, or debating admissions procedures, the Burnet auditorium has been seeing increasing numbers of young professionals who have the future – literally – sitting in their laps.

As a parent of young public school children, I know individuals born after 1980 (Gen Y) bring dynamism and impatience to education debates. With emotional and financial commitment to their schools and neighborhoods, they demand accountability and transparency. Those that cannot find such traits, choose to move elsewhere.

But urban school districts desperately need valuable Generation Y advocates. And not only as mentors and volunteers – we need the same entrepreneurial commitment in our classroom teachers.

However, younger teachers are getting buried in no-win situations throughout American school districts. For instance, LIFO (Last In-First Out) has become a hot topic within the recent collective bargaining debates in Wisconsin and Ohio. Teacher seniority guidelines typically place young, tech-savvy and technology-trained teachers into high poverty, low performing schools with little training to deal with poverty, homelessness, hunger, and parental neglect. Author Diane Ravitch indicates 50 percent of newly minted teachers “jump ship” within five years. Clearly, dumping Gen Y teachers into sink-or-swim assignments isn’t beneficial.

Michelle Rhee, former DC Schools chancellor, states the LIFO rule is a contractual collective bargaining provision that “makes absolutely no sense for children.” Which begs the question: Why are we placing young, tech-savvy teachers into no-win situations?

Instead, shouldn’t we be piggybacking their distinct communication, media and digital knowledge to create a new educational perspective? In fact, why couldn’t our Gen Y brethren further establish a new entrepreneurial reality by spawning new learning tools and opportunities like American legends Andrew Carnegie, Nelson Rockefeller, and Steve Jobs?

How do create win-win solutions for our youngest — and eldest — teachers? I support pay for performance measures. Some union contracts are now calling for 10-15% of teacher compensation to be drawn from hitting benchmarks based on individual student academic growth. It’s not a perfect solution, but we can get an idea of teacher competency and skill based on select performance measures.

Bottom line, we need to coax innovation from everyone. What better way to “think outside the box” than to introduce a different box? Maybe it’s not a box at all. Why not ask our youngest educators to suggest ways to improve their teaching situation, and create a district-wide or regional innovation roundtable filled with our most capable, youngest educators.

Let’s be entrepreneurial now. Watch our impatient young teachers work some magic. Opportunity can’t wait.

Reprint of article originally published by The Cincinnati Enquirer via Cincinnati.com on March 1, 2011.