Junior Achievement (JA) announced Dec. 21 that The Goldman Sachs Foundation has pledged $98,000 to support educational initiatives on personal financial literacy for youth. This is the latest in a series of grants the Foundation has provided to JA to promote financial literacy.
"As recent events in the housing market and sub-prime mortgages show, there is an urgent need to promote financial literacy in this country," President and CEO of JA Gerald Czarnecki said. "By preparing today's young people to better understand how credit and debt work, one of our goals is to help tomorrow's homeowners make better informed decisions. The Goldman Sachs Foundation's support is critical to this effort."
The grant will help maintain The JA/Goldman Sachs Personal Finance Center at www. JA.org.
The center gives young people access to free, fun and engaging interactive activities that help them better understand how to manage their money through budgeting, saving and planning.
The grant also supports the classroom edition of JA Personal Finance, an in-school program that helps middle school students better understand personal finance.
The programs incorporate Internet-driven instructional strategies and hands-on, interactive instructional techniques to teach parents, students and the general public about topics from everyday personal financial decisions to major investment strategies and outcomes.
A summative evaluation completed and reported in 2003 by the Worldwide Institute for Research and Evaluation (WIRE) showed JA Personal Finance to hold significant impact with student learners.
The new Goldman Sachs Foundation gift will allow Junior Achievement to update, revise and enhance the website for an ever better online educational experience.