The NGPF Team is growing...Join me in welcoming Yanely Espinal who will be leading our efforts in New York City, the largest school district in America. She shares her passion for financial education below. Hear more about Yanely's inspiring journey in this NGPF podcast from March.  

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Last year, NGPF conducted a nationwide study of 13 million students across 11,000 high schools to find out how personal finance is being taught across America. The results showed that only 1 in 6 high schoolers attends a school with a personal finance requirement. When looking at schools in low-income communities, that number drops to 1 in 12!

Out of curiosity, I compared the findings of the NGPF study with the Census Bureau’s list of states ranked by poverty level. The results were just as concerning.

1. Only one of the top 10 states in terms of poverty level (Alabama) has a state mandate requiring high school students to take a semester-long personal finance course.
2. Only one state (Oklahoma) had more than 5% of students attending high schools with a personal finance requirement. 
3. On a positive note, two states on the list, Kentucky and Arkansas, recently passed legislation to increase access to financial education for their students.

While it’s encouraging to see some progress on the legislative front, we still clearly have a long way to go! Comparing these lists really made me wonder if the lack of access to financial education just reinforces inequities that exist in our society.  Now, I don’t believe that financial education alone will solve the income inequality issues in this country, but I know the climb up will be much more challenging without it. In my role at NGPF, I look forward to having an impact on improving this situation. 

As a young Latina who grew up just a few blocks away from multiple payday lenders and check cashing establishments, I feel a great responsibility to let others like me know how paying 29% interest on a loan can cripple your financial situation. My goal is to compel more people to dive into personal finance, not just for their sake and the sake of their families, but for the sake of our society.

In my new role as Director of Educational Outreach here at NGPF, I’ll be leading efforts to increase access to financial education in my hometown, NYC! I’ll be hosting student workshops at high schools in the 5 boroughs and greater NYC area. If you’re interested in having me speak to your students or want to share this opportunity with a teacher you know, here’s the link to our request form!

About the Author

Yanely Espinal

Born and raised by Dominican, immigrant parents in Brooklyn, Yanely is a proud product of NYC public schools. She graduated from Fiorello H. LaGuardia High School in 2007 before going on to receive her bachelor's degree at Brown University in 2011. As a Teach For America corps member, Yanely taught third and fourth grade in Canarsie, Brooklyn. She received her master's degree from Relay Graduate School of Education in 2013. She spends her spare time making YouTube videos about personal finance on her channel, MissBeHelpful. Yanely also loves to dance, sew, paint, listen to podcasts, and babysit her 10 nieces and nephews!

More posts by Yanely