PIE: Partnership For Innovation in Education

A Real Life Report Card?

Posted by P.I.E. | September 29, 2011

Jody Scharfenberger, Founder Campaign Data Apps

Parents readily teach their children about the perils of getting a bad report card, living on a budget, saving money, and being punctual. Rarely, do parents teach kids about Credit reports, FICO Scores, and Interest Rates. So what happens after graduation when these now adults have no idea they are being graded on a “Real Life Report Card” called a credit report?

Some parents teach their children to open savings accounts rather than get into credit card debt fearing that without parental oversight they may not be able to control their spending habits.  Some high school kids are encouraged by family members to get a job, open a checking account and are proactively taught to manage their money. Others end up with high interest rate credit cards without the ability to make the monthly minimum payments while in college.  The truth … even though the degree of financial education is disparate from one family to another, we are not teaching the next generation about the “Real Life Report Card” or Credit Score that will stay with them and affect their financial health throughout adulthood.

On college campuses nationwide, financial institutions encourage college students already strapped for cash to apply for credit cards with the promise of low monthly payments.  Credit card salespeople have been known to offer free gifts and even free money as incentives to sign up for high limit or even high interest rate credit cards.  Naïve students take the bait and end up in debt without the ability to pay.  The irony–many credit card companies later deny the former student, now graduate with a lucrative new job, any type of credit card citing no credit history or low FICO Score.

What if  the next generation were taught the importance of a Vantage or FICO Score at an early age? What if today’s youth graduated from high school knowing that their credit score is like a financial social security number that should be protected.  What if parents taught children that a FICO score follows a person throughout adulthood and determines their eligibility to rent or buy a home,  receive a job offer, or purchase a car.

Learning the fundamentals of how the “Real Life Report Card” is calculated is a valuable lesson for young adults.  Young adults need to understand that the determination of whether they are a good or bad credit candidate is based upon:

1. Whether they make debt payments on time,
2. The amount of money owed on outstanding debts,
3. The length of their credit history, and
4. How frequently they attempt to acquire new credit/debt.

Ultimately, young adults need to understand how to use credit to their advantage and the elements needed for good financial decision-making.

We have all seen those funny commercials showing the married guy living in his in-laws basement with his new wife, singing the blues about not checking his credit score fa-la-la. When we teach children about the “Real Life Report Card,” we send them down the path of financial literacy instead of married with children and living in our basements.

About the Author

In early 2011, Jody Scharfenberger started Campaign Data Apps to help candidates utilize social media to interact with voters and raise money.  She is a 15 year veteran of the Direct Marketing business, working for such companies as InfoUSA, Acxiom, and MarketsonDemand. In early 2001, she helped to lead the team that took the startup MarketsOnDemand into acquisition by Acxiom.  Jody has worked with such clients as Citibank, American Express, JCrew, and LensCrafters integrating email into their marketing platforms.

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.

Building the “Habitual” Entrepreneur

Posted by P.I.E. | February 28, 2011

Superintendent Todd Yohey, Oak Hills High School

“Entrepreneur” is a hot career title for just about any high school student.  And with the popularity of youthful CEO’s leading Facebook, Twitter, Groupon and Linkedin, popular media makes it look easy to create, nurture and fund a business.  They forget to report the hard work, passion, discipline, and business skills required to transform a dream into a profitable reality.

And that’s where schools step in.  Entrepreneurs aren’t typically born — they are nurtured.   And studies indicate that new, project-based curriculums build skills necessary to thrive in global economies that demand leadership, great communication skills, and a quick grasp of both the big picture and the small details.   But where do you find these skill-building schools that imbue an entrepreneurial, collegial attitude?

Come visit Oak Hills High School where innovation and project-based learning are hot disciplines.  In fact, several schools in Ohio, Indiana, and Illinois highlight the newest implementation of 21^st century skill and portfolio school curriculums.  For instance, the Oak Hills Local School District creates new opportunities for their students on a daily basis — which is no small feat.  With nine schools, and one of the largest high schools in Ohio (2738 students), Oak Hills Administrators have created a new curriculum that rivals many freshman college programs.

Led by Superintendent Todd Yohey, the Oak Hills Local School District exemplifies how innovation changes lives.  Located in southwestern Ohio, the suburban school district has created a K-12 twenty-first century, project-based learning program called “Habits of Mind.”    Begun at the elementary school level, the Habits of Mind program infuses the State-mandated Core Curriculum Standards with career-ready skills that hinge upon effective teaching of the 4 C’s:  critical thinking, communication, collaboration and creativity.

And the Oak Hills Local School District has the technological infrastructure to support such an innovation-based, project-centric curriculum.  Enlisting the help of parents and community sponsors, Oak Hills is one of the first public school districts in Ohio to welcome the use of outside, student-owned technology in the school. With rising technology costs and decreasing budgets, the school district enjoins parents and students to use their technology within the public school.

Understanding that the strongest education program fully prepares its students beyond high school, the Oak Hills School District has implemented a portfolio program targeting eleventh and twelfth graders called “Programs of Study.”  The Program allows students to “major” in one of four areas and take classroom, virtual or one-on-one classes that satisfy the plan requirements.   Highlighting portfolio subject specialties such as business, international studies, creative and performing arts and STEMM (Science, Technology, Engineering, Mathematics and Medicine), students can delve deep into career, college preparedness, and job opportunities before graduation.

By embedding real-time skills into content-based academic requirements, students obtain the best of both worlds:  project-based learning infused within a core academic curriculum.   And the required Capstone Project mimics the typical masters project, minus the dissertation and defense!

And yes, the voluntary Programs of Study requires extra time, commitment, and dedication among all staff members and students.  The Oak Hills Local School District believes at least 35 percent of the entire eleventh and twelfth grade students will participate in the new, college/career-prep curriculum.

Moreover, the curriculum is one that appeals to more entrepreneurial, less-linear student learning types.  The Oak Hills School District wants to encourage all types of thinking – especially in today’s new innovation, results-driven, economy.  As Yohey noted “more non-traditional students will realize success.”   Typically, the “top 15 percent students know how to ‘play school’ very well, but we also want to capture the learners with entrepreneurial tendencies, who aren’t comfortable in the typical school setting.”

Oak Hills may serve as the bellwether for how to best implement new, content and career-driven curriculums among public schools.   However, its success may hinge upon how the entire community, including a strong parochial school student base, gauges the value.

With a school district small enough to make meaningful 1:1 changes, but large enough to monitor scalable progress, the Oak Hills Local School District has a great chance for success. Clearly, teaching a curriculum based on business principles and self-reliance can only help encourage the “entrepreneurial” habit of mind.   When will we see any measurable results?  Only time will tell.

About the Author

Todd Yohey is the Superintendent of Oak Hills Local School District located just west of Cincinnati OH. Prior to his career as school superintendent, he served as a high school chemistry teacher and currently serves as an adjunct faculty at Wright State University.

To learn more about the initiatives in the Oak Hills Local School District please feel free to contact Todd Yohey at Yohey_t@oakhills.hccanet.org.

Educational “Rhee-form”: A Discussion with Michelle Rhee

Posted by P.I.E. | February 2, 2011

Michelle Rhee, former Chancellor of D.C. Public Schools

Michelle Rhee – former District of Columbia Education Chancellor – offered advice as she kicked off her SmartTalk presentation about ways to improve the American education system.  From suggesting invested parents serve in executive positions (“Moms serve as superintendents”) to offering Warren Buffet’s advice (“Make private schools illegal.”), Rhee presented her experience to an audience of government officials, parents, teachers, administrators, business executives and education advocates.

Rhee noted how “impatience” and “parental urgency” guided her actions to provide “great education now” for her poverty-ridden school district.  Taking on the “most dysfunctional” district with a 70% achievement gap, Rhee battled with parents, teachers unions, and politicians as she closed 23 schools, re-negotiated a teachers contract rewarding teaching excellence, and instituted economic efficiencies and business partnerships that saved her district millions of dollars.

With a goal of “insuring that every DC child receive a great education,” Rhee supported voucher programs, emulated selective Charter school “best practice” systems, and “offered teachers opportunities to double their salaries using transparent performance measures.”  Citing Gates Foundation research, Rhee indicated that teacher excellence dictates student success, directly affecting high school graduation rates and college enrollment.  And graduation rates foreshadow global competitiveness and future economic development.   Using international statistics, Rhee stated “153M new high skill/high pay jobs will be created:  American kids are only prepared to fill 1/3 of those skilled jobs,” opening the door for significant career advancement by “technology-driven countries such as India and China.”

With global business surging, Rhee noted American students rank 23^rd , 27^th , and 29^th in Reading, Math and Science in international standings.   And private schools don’t do much better:  5% of all top high school seniors rank 23^rd in overall subject areas.  She noted that America has “lost its competitive standing” and suffers from “complacency” where students – and teachers – are not asked to stretch their capabilities.  Rhee noted she wanted her team to actually “be good – not just feel good.”

Finally, Rhee noted the American education system lacks fiscal accountability where elected and appointed education leaders rarely “follow the money” and “politics” guide most education decisions.

Rhee closed her session by offering some solutions.  Most notably billionaire Warren Buffet  advised that education inequities among socioeconomic classes would be solved by  “Making all private schools illegal.”  Although the suggestion is impossible to enforce, she noted public schools, “are considered historically the ‘great equalizer’ in American society.”  She added,“randomly assigning all kids to attend public schools throughout a district from President Obama’s children to foreign ambassador’s kids, to kids living in homeless shelters would  create a dynamic that would change the education system and allow public schools to offer children an equal shot at life.”  She noted that it was the “biggest social injustice that skin color and zip code determined a child’s education and future opportunity.”

P.I.E. looks forward to Rhee’s continued impact on education reform and future plans for the nonprofit organization, StudentsFirst, a lobbying organization — founded by Rhee — representing student interests.

“Engineering Chaos”

Posted by P.I.E. | January 29, 2011

Dr. Gary Pack, Superintendent Princeton City School District

“Engineered chaos” defines the educational environment in the Princeton City School District (PCSD). According to PCSD Superintendent Dr. Gary Pack, creating “agitated events” offers a highly evolved, high school experience.  However, designing a 24/7 academic curriculum is no small feat for a diversified suburban student population of almost 6,000 Asian, Black, Hispanic, Indian, Pacific Islander and White students with increased enrollment each year.  Approximately 56% of PCSD students receive free or reduced lunches, and 13% of the students are identified as Limited English Proficient.

Coined “30-30-30,” PCSD represents the new demographic of equally distributed white, black and Hispanic students.  With no dominant culture and over 30 languages, Dr. Gary Pack and Curriculum Director Amy Crouse, M.Ed., are exploring new ways to engage and prepare students for a chaotic, but opportunistic, future.

And the Princeton administration is working at hyper speed.  Slated to begin construction of the 6^th largest (540,000 sq. ft.) $120M high school/middle school complex in Ohio, both Pack and Crouse are looking to create an educational experience drawing on four emerging trends.

First, encouraged by Indiana’s success with New Tech Model Schools, PCSD is looking to incorporate similar rigorous diploma “college prep” programs that will also enhance the current International Baccalaureate, advanced placement and music curriculums. By 2015, PCSD aims to have 100% of its graduates apply and be accepted to college, trade school, vocational school, the military or ready for work rather than the typical 40% of graduates we have now.

Second, PCSD hopes to offer the STEM (Science, Technology, Engineering and Math) curriculum to its 3,000 high school and middle school students—where students take dual-credit courses with undergraduate college institutions.

Third, Dr. Pack believes—first and foremost—Princeton must “Do right by their kids.”  With that objective, PCSD is striving for ALL schools to receive Ohio’s honored “Excellent with Distinction” designation.   Empowering teachers, effectively using technology, and building “best practice” communication links among school networks will offer exposure and dialogue.  Moreover, Crouse and Pack noted a strong commitment to teacher training, measuring student-teacher achievement, and hiring highly qualified, tech-savvy teachers.

Fourth, PCSD must continue its entrepreneurial relationships with its business partners.  Alliances with General Electric, Cincinnati Bell, University of Cincinnati and netTrekker, allow for executive mentoring and job opportunities while still earning high school credits.   With one-on-one exposure to business executives at quarterly “Partnership Breakfasts” and “Community Conversations,” Dr. Gary Pack is committed to exposing his students to various career and community paths.

Seen as a “community catalyst,” Dr. Pack insisted the Princeton City School District expects its employees to have a “high ‘rev’ factor.”  The job demands “passion, long hours and a belief that innovation and entrepreneurialism will not only accelerate academic achievement but also offer important career skills within a global economy. “

As both a leader of “instruction and construction,” Dr. Gary Pack is literally building the district’s future.   Don’t miss his progress.

About the Authors:

Dr. Gary Pack is in his 39th year of education, a career arc that has brought him from high school Social Studies classrooms to the Kentucky Department of Education to superintendent positions in four states. The Eastern Kentucky native is now in his third year as the superintendent at Princeton City Schools, where he has transformed not only the district’s academic achievement, but also its culture. Princeton was rated “Excellent” by the Ohio Department of Education for the first time in 2010. A former Tennessee Superintendent of the Year, Pack talks of “drilling down into the data” and instilling in the staff and parents that belief that every child will reach his or her potential. For all his attention to academic detail, he also has brought a light touch at times to Princeton, dressing up in a full Viking costume and leading the Central Office float at the Homecoming Parade. He earned his Ph. D. at the University of Louisville. He and his wife, Jackie, are the parents of three grown children and the grandparents of two.

Curriculum Director Amy Crouse, M.Ed

Amy Crouse, the daughter of an Indiana school administrator, is now closing in on earning her educational doctorate at the University of Cincinnati, while leading Princeton Schools’ academic initiatives as its Director of Curriculum and Instruction. She began her career as a middle school teacher, then serving as an elementary- and middle-school building principal. In her current position, her responsibilities include supervising the selection and implementation of standards-based curriculum materials and instructional strategies for grades preschool through 12 and implementing and monitoring common assessments for all grade levels. She also studied at the Harvard Institute of School Leadership. Her goal is to one day become a superintendent of an urban school district. She and her husband have three young children.

Great Oaks: Not your Parents’ Technical School

Posted by P.I.E. | January 21, 2011

Dr. Robin White, President/CEO of Great Oaks Institute of Technology and Career Development

I’ll bet Robin White has driven an Oldsmobile.  The famous automaker’s advertising jingle, “it’s not your father’s car”, parallels nicely with her responsibilities as CEO of Great Oaks Institute of Technology and Career Development.  She knows a 1950′s-styled, old-school technical education isn’t competitive in a shifting American economy where careers must be retooled and re-imagined as jobs move overseas.  It’s a delicate balance, and one that increasingly pushes her to offer courses developing 21st century skills.

Such visionary thinking is in sync with President Obama’s recent American Graduation Initiative (“AGI”).  AGI pumped $12 million into community colleges and called for 5 million additional grads by 2020. The program is geared toward retraining adults who need new work skills in the changing economy.

Traditionally, technical education was a means to an end: a job. Today, Great Oaks has expanded its mission, preparing high school students for a wide range of careers. For many it serves as a training ground for continuing education, especially for adult learners.

“Employers are demanding people with higher skills, and we know that people who get a higher degree earn more over their lifetimes,” White says.  We tell our students, “We are a great place to begin a career, but you have work to do over a lifetime.”

Known for its lab structure and student group dynamic, career-technical education has been teaching abilities now coined “21st century skills.”  Those skills—creativity, collaboration, critical thinking, and communication—have been identified by employers nationwide as skills graduates need for future jobs.

Great Oaks, working with the High AIMS Consortium, launched a multi-year project to support 21st century teaching and learning in 2008.  This effort included three regional conferences featuring national speakers and participants from 45 school districts plus private and parochial schools and business/industry leaders.  The effort raised $100K dollars, providing developmental grants to school districts expanding 21st century learning initiatives.

In the last decade, Great Oaks partnered with area colleges to foster the transition from technical school to higher education. The district has matriculation agreements with more than a dozen colleges, universities, and continuing education institutions. This allows students to transfer credits earned at Great Oaks to technical, trade, management, and design programs at places ranging from the University of Cincinnati’s Raymond Walters College and Miami University to programs offered by Ohio Valley Associated Builders & Contractors.

For adult learners, Great Oaks is a place to “ease into a new learning environment before going onto earn a four-year academic degree,” White says.

“Some students haven’t been to school for 30 years and are reluctant to go to a college campus. In our partnership with postsecondary colleges, we can help those folks who have been in the workforce get their confidence and skills up before they go to college,” White says.

She relies on the local business community and current and former students to help reassess and develop programs to train students for today’s jobs, and for the jobs of the future.

“Great Oaks has several animal programs. Of course, not all these students are going to be vets. But they have connected to a passion, and are able to move to a college program where they have a great background in anatomy, biology and physiology transferable to a wide variety of jobs. Everybody wins when we can help young people address their passions AND further their academic proficiencies.”

A good example is Great Oaks Equine Science and Management program.  This program offers courses in various sciences that are part of the Obama Administration’s national “Educate to Innovate” campaign for Excellence in Science, Technology, Engineering, and Math (STEM) education. Students interpret animal health records, demonstrate management practices for the care of small animals, and conduct lab tests.  Additional career programs with an animal focus include: Animal Science and Management and Veterinary Assisting.

Great Oaks offers a targeted solution to creating career-ready opportunities.  Marrying student needs, employer demands and future opportunities requires balance and an understanding of broad skill sets.  A 100-year legacy, celebrity marketing campaigns, and catchy advertising jingles couldn’t save Oldsmobile.  Its demise demonstrates how identifying and seizing new entrepreneurial opportunities defines the technical future.  With community colleges such as Great Oaks teaching pro-active, “make it work” thinking, manufacturing hubs hit the hardest by corporate outsourcing, plant shutdowns, and declines in economic development will be engines of growth once again for technical graduates.  Road trip, anyone?

Biography: Dr. Robin White is the President/CEO of Great Oaks Institute of Technology and Career Development in suburban Cincinnati. She took over the helm of Great Oaks in 2003, and previously was the school’s vice president of performance and outcomes. She’s a member of Agenda 360, Great Cincinnati’s economic development strategic planning initiative. Great Oaks is one of the one of the largest career and technical education districts in the United States.

How to Become a “Trillionaire”:Teaching Financial Literacy in Public Schools

Posted by P.I.E. | November 18, 2010

Crystal's Faulkner, CPA with Cooney, Faulkner & Stevens, LLC. & Chairperson for Accounting for Kids, Inc.

Eyes typically widen as students listen to the fortunes represented by individuals such as Bill Gates and Donald Trump.   It isn’t over-reaching to tell kids that with a good idea, some financial moxy, and the will to succeed, anyone can become a “trillionaire”.   But you have to start with the basics first…

And, especially now, with the economy and stock markets tumbling since 2007, students need to learn from the errors made within the public and private financial sectors.  For instance, recent surveys show that at least 50 percent of workers are experiencing financial stress. Home foreclosure costs are calculated in the trillions as people – and banking institutions — assumed debt they couldn’t afford during an economic downturn.  Those troubles also affect corporate bottom lines as employee efficiency declines.

According to the University of Cincinnati Economics Center’s review of published research, it is estimated “a worker with financial problems spends 15 minutes per day dealing with personal financial matters,” resulting in an annual loss of 62.5 hours of worker productivity for each worker. Moreover, 88 percent of American workers carry some form of monthly debt reducing their ability to save for emergencies and less discretionary income after paying expenses and obligations. Three years later, these facts are being reviewed with incoming high school freshman and elementary students hoping such mistakes won’t be repeated.

“Financial literacy is quickly becoming one of the top 21^st Century skills that will be heavily integrated into the education curriculum,” explained Adrijana G. Kowatsch, Development Officer for the Economics Center at the University of Cincinnati.   Classroom integration is needed immediately:  High school seniors took a national test in 2008 that included financial literacy topics, and their average score was less than 50%. College freshman scored only marginally better.

In Ohio, Senate Bill 311 was passed in 2006, requiring the integration of economics and financial literacy within high school classes, beginning with freshman enrolled after July 2010.  The program hopes to provide the Class of 2014 with the financial tools and smarts to be successful in any chosen career path or job opportunity.  Kowatsch said helping schools meet the new mandate, titled Financial Education Initiative, is a huge undertaking in southwest Ohio with the intention of duplicating similar classroom models across the country.

Some Ohio area schools are electing to include six-weeks of personal finance content in existing classes, while others offer a full semester course, dedicated to personal finance.  Kowatsch added the Economic Center, an organization offering support to teachers underprepared for teaching the subject, to provide teaching materials, training, and online resources. The results are promising. For example, since the program was implemented for a full semester at Reading High School, students showed a 30 percent increase in financial literacy knowledge.

“This provides the foundation for economic growth, better business environment and developing a community of individuals who are financially smart,” she said. “By changing students’ perspective on investing money, sticking to a budget and planning for their financial future, these individuals will be confident about how to manage their income, be competitive in the workforce and an asset to their employer.”

The reach, however, goes beyond high school. It seems the concept of financial literacy is touching a younger audience as well. Crystal Faulkner, business and financial consultant for Cooney, Faulkner & Stevens, LLC., founded the non-profit organization – Accounting For Kids, Inc. (AFK) and developed “Accounting For Kids Day”. Hundreds of business and financial professionals meet with local middle school children and teach financial decision-making skills.  Kids become more knowledgeable consumers while learning math and financial concepts.

“We have a firm belief if children are empowered at an early age to learn fundamental financial skills, these skills can last a lifetime; thereby providing an opportunity for all children, regardless of their parents’ income, to have a life that is more financially upward mobile,” she said.

AFK is working closely with the Economics Center at the University of Cincinnati to assist in incorporating financial education in the classrooms on a regular basis.  Both programs are non-profit organizations and receive support through voluntary donations from area banks, businesses and private individuals. Our children’s financial literacy begins with proactive adults through the implementation of educational programs like Accounting for Kids Day and is enhanced by the continued availability and dissemination of financial literacy information provided by the Economics Center and other similar organizations.

Trillionaires?  Maybe not everyone.  But teaching competent money management at a young age can only enhance future career opportunities.  And of course, lucrative employment and a profitable business sector provide increasing tax revenues and allows for savvier citizens to create new avenues of entrepreneurial growth.

It may seem simple, but teaching kids how to use money as a tool for economic development and prosperity will help preserve the American Dream.   And every trillionaire started with a dream….

About the Author

Crystal Faulkner, CPA is a business and financial consultant with Cooney, Faulkner & Stevens, LLC.  She is the Chairperson for Accounting for Kids, Inc. Adrijana G. Kowatsch is the Development Officer for the Economics Center at University of Cincinnati.

“Career-Ready” Entrepreneurship: Rebranding the Technical School

Posted by P.I.E. | November 12, 2010

Kent Friel, Community Fellow, Knowledge Works Foundation

Over the past 20 years, the education sector has slowly attracted interest among business and economic leaders.  And with philanthropic organizations such as the Bill and Melinda Gates Foundation measuring the impact of its sponsored programs, education leaders now need the business community to help in promoting academic achievement and workforce readiness as key opportunities for sustaining healthy communities.

Kent Friel is a perfect example of a businessman-turned-education-advocate.

Ten years ago, convinced the education community was not providing adequate numbers of career-ready graduates, Kent — CEO of a career-services firm — spearheaded an effort to promote workforce readiness within schools.  In partnership with a dedicated task force, he convinced the Superintendent of Cincinnati Public Schools (CPS) to pursue a “portfolio” school responsible for preparing students to enter an immediate career upon graduation and the opportunity to attend a 2 or 4-year college.

With a recommendation and community commitment, the Superintendent and Cincinnati Board of Education approved plans for the $42 million Woodward Career Technical High School. The new school opened in 2002 with three learning academies, each focusing on a specific career area. The school moved into its new building in 2005.

But fate – and the economy – would not be so kind.

By 2005, CPS district was on its third Superintendent. No member of the administration who approved the plan was still there. With a capacity of 1,200 students and a tight financial situation within CPS, a 4^th career academy was added to the school along with five multi-handicapped units. It was an overwhelming situation to manage.  It was also clear that many within the CPS administration as well as those in schools feeding students to the school viewed it as a school in the old vocational model (prepare for a job) versus the new career-tech model (prepare for a career and college). The school was populated with 33% special needs students, over 100 homeless students, and a school leadership that was struggling and not achieving the promise of the school.

However, with the renewed calls for schools to support viable career-readiness curriculums, the school is now blossoming. A supportive new CPS Superintendent (the 4th since plan approval), a dynamic new principal (its 3^rd) and state and federal funding to aid in providing the needed support services for the school are making a real difference. And…the school has returned to its three central learning academies.

And incrementally, a Community Learning Center (CLC) was added to the school building and physical plan, providing a broad range of student and community paid support services.  As a result, discipline issues decreased while attendance increased across all grades.

Like other progressive schools, Woodward students can earn college credits in high school, thereby improving academic performance and further motivating teaching and support staff. And with project-based education models and curriculums, each student now uses a personal Apple Notebook computer for researching and developing education lessons.  They can even receive credit for work performed with organizations such as Habit for Humanity, where Woodward students constructed houses and communities in New Orleans.

After a decade of hard work, bureaucratic endurance and a passionate community of advocates, Kent Friel helped create new opportunities for students by forging bonds with a diverse set of stakeholders.

But Kent is not ready to shift his attention.  As Woodward’s business champion, he oversees the effects of economic uncertainty in an urban school system.  With growing numbers of homelessness, poverty, financial constraints, and continuous administrative school leadership changes, challenges remain difficult.

However, overcoming difficulty is no surprise for Kent.  He’ll be involved as Woodward continues to think beyond preparing students for known career opportunities. New electives like “Entrepreneurs Workshop”,  “Career Incubator” or “Business Plan 101” are sure to arrive soon…

About the Author

Former business owner, Kent Friel is a Community Fellow with the Knowledge Works Foundation, a major educational foundation. He is also the Chairman of the Dean’s Advisory Council of the University of Cincinnati College of Education, Woodward Career Technical High School Advisory Council, Lighthouse Community School Board and Cincinnatus Association Education Panel. He sits on the Better Business Bureau Foundation Board.

Kent was recently awarded the ‘Award of Excellence’ honorary degree by the Board of Trustees of the University of Cincinnati for his work in education.

The Dropout Epidemic

Posted by P.I.E. | October 25, 2010

Barbara Seibel, President and CEO of Jobs for Cincinnati Graduates

You’ve heard the phrase “it takes a village to raise a child.” For school drop-outs, that village has very little time and space dedicated to such children.  And yet these “lost” children represent huge opportunities for cities and communities.

According to Barbara Seibel, President and CEO of Jobs for Cincinnati Graduates (JCG), studies indicate every high school dropout costs tax payers more than $200,000 over the student’s lifetime. Such a negative financial impact represents rising health care utilization, higher usage of criminal justice systems, and the loss of an available workforce population. JCG became aware of a continuing education program called Fast Forward Center implemented in Montgomery County, Ohio. Based on a similar model, they developed Connect2Success.

“We were impressed by the positive outcomes focused on re-engaging drop outs,” Seibel said. “Fast Forward already had the educational component in place that resulted in their success. We felt it would be much more successful if there were a few additional components.”

She explained that without a supportive network, a dropout student will often become disengaged, and give up on continuing their education or getting a job.  Connect2Success involves a dozen local partners recruiting young people who have dropped out of school.  After assessing and analyzing each student’s situation, these partners help create a workable individual career plan. The student is provided a life coach to deal with immediate crisis issues such as transportation, housing, and childcare while also learning skills such as budgeting, credit, and job readiness skills. An education and career coach are assigned to assist the student in obtaining their GED or diploma, if needed.

Connect2Success has served 850 young adults since 2008, and according to Seibel, 87 percent of them are still engaged in the program or have successfully completed it. The coaches stay in touch with the student for a year after graduation, making sure the kids are staying on track.

JCG and its partners also learned some important best practices since starting the program. “One organization cannot do it alone. It is important to bring groups together who are already working successfully with drop out individuals,” she said.

She also recommended starting small to achieve ideal results. “The program became stronger through a collaborative partnership because we worked with the student from their re-engagement into education to the time they could successfully support themselves and their family,” she said.

Seibel also believes the kids participating in Connect2Success will be better prepared when the economy begins to turn around. For dropout students, it takes the collaboration of a village of businesses, communities, and educators to become successful and reverse the negative financial impact to society.

Learn more about Connect2Success by visiting Jobs for Cincinnati Graduates online.

Biography: Barbara Seibel has been President/CEO of Jobs for Cincinnati Graduates since 2001.  Prior to that, she was the Director of Court Services for Neglected, Abused, and Delinquent Youth with the Hamilton County Juvenile Court for 24 years. Barbara has written several best practice books for the National Council of Juvenile and Family Court Judges and for the State of California Family Court System. She has a Master’s Degree in Business Administration from Xavier University.