I wanted to share information about a new initiative the Department of Education and the Department of Treasury have launched to promote financial literacy among high school students. The National Financial Capability Challenge is an awards program that is designed to increase the financial knowledge and capability of high school aged youth (13-19) across the United States. The goal is for one million students to take the Challenge. Now more than ever, I believe it is critically important to provide America’s youth with the tools to make wise financial decisions in the future.

Here’s how the Challenge works: Educators who are willing to volunteer to administer the Challenge must register by March 14th. Any educator working with high school students may sign up to administer the Challenge. This includes high school teachers and librarians, after-school program staff, youth group leaders, home-school parents, and others. During February and March, educators teach students the basics of personal finance, inside or outside of the classroom. They can use the free Educator Toolkit (which is provided to educators when they register), their own materials, or a combination. On a date in late March or early April (to be selected by their educators), students will take a voluntary online exam designed to illustrate the importance of making good financial decisions, allowing students to demonstrate what they have learned and assessing their financial knowledge. In April, educators and top-scoring students will receive award certificates, and schools and states with the highest participation rates will earn special distinction.

If you are an educator interested in joining the Challenge, you can register at http://www.challenge.treas.gov/. Parents and students who are interested in the Challenge can also visit that site for more information and spread the word to schools and educators. I think this is a great opportunity for our communities to get involved and help prepare our youth for a bright future.