Summer Camp Focuses on Saving, Borrowing and Budget
June 12, 2012 :: No. 198
Cal State Fullerton’s Center for Economic Education hosts a June 18-22 Financial Fitness Summer Institute for incoming-ninth grade students from Valadez Middle School Academy in Placentia, Orangeview Junior High in Anaheim and Nicolas Junior High in Fullerton. Concluding the weeklong program will be a 10 a.m. June 22 visit from Sen. Lou Correa, a CSUF alumnus who graduated with an economics degree in 1980, who will speak on the importance of financial literacy and education.
June 18 - 22
Cal State Fullerton, 800 N. State College Blvd., Fullerton 92831
Mihaylo Hall - orientation and Correa's presentation
McCarthy Hall - classes
Approximately 80 to 100 students are expected to attend the summer program. Topics of instruction will include choosing a career, calculating take-home pay, buying versus renting a house, leasing versus purchasing a car, budgeting, saving, annual percentage yield and annual percentage rate, borrowing, use of ATM, use of credit, credit car statements, insurance, retirement planning, identity theft and playing the stock market.
The goal is to not only to provide youth with financial skills, but also to encourage them to pursue a college education, explained Radha Bhattacharya, professor of economics and director of the university’s Center for Economic Education, which oversees the program. “This program goes beyond financial literacy and shows students that through the act of saving every month, it is possible to make the opportunity of a college education a reality,” she said.
The program is part of the U.S. Bank Economic Empowerment Program instituted last fall. The program teaches students the importance and power of savings and also matches every $10 a participating student deposits each month into a college savings account.
Most of the participants in the summer program are expected to come from the empowerment program, which is funded by a combination of private and public funds — a $500,000 U.S. Bank award to the Mihaylo College of Business and Economics, plus $150,000 grant from the U.S. Department of Health and Human Services Assets for Independence.
Radha Bhattacharya, Center for Economic Education, 657-278-3652
Pamela McLaren, 657-278-4852