We can all recognize deficiencies in the current education system in America. In higher income neighborhoods schools and students are thriving. Graduation rates are higher than in those lower-income neighborhoods. So what have Americans done in order to fill in those gaps, where the public education system cannot reach? Just like Khan Academy was formed to clarify concepts and make concepts available worldwide via the web, Lorraine Decker an entrepreneur has changed Houston area students from low-socioeconomic backgrounds.
Skills for Living was formed to teach high school sophomores financial concepts for life. In the “Game of Real Life[1]” students learn about insurance, how to calculate their taxes and how much money they will earn if they choose to go to college, or choose to get a job right after High School. Students learn about decision-making and how to strategically plan for a financially secure future. As a former instructor for S4L, I can tell you that this is one of the most effective methods of positively influencing youth. I have seen the students that I taught graduate from High School and go on to attend college. These are kids that did not think they could attend a four-year university but after being involved in the Game of Real Life, they feel more empowered to attend a four year university.
Watch this video where Lorraine talks about S4L:
http://www.youtube.com/watch?v=Vlem6XWS22I&list=UUszNpnw_Mg1cJIDKIC6QQNw
Entrepreneurs, like Lorraine Decker and Salman Khan[2] are changing the world. They are filling the gaps in the education system not just in the United States but around the world. I would be interested in seeing if the Khan method of teaching via the web could be used to teach Financial Literacy in the United States.
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