Massachusetts
Should financial literacy classes be a requirement for Massachusetts students?
BOSTON – Credit scores, interest rates and taxes. Nine out of 10 students in Massachusetts are not required to learn about these things. Should the state make financial literacy a requirement for students?
As a teenager navigating middle school and high school Sean Simonini never got “the talk.”
“So, you think of the ‘birds and the bees’ right, that’s pretty uncomfortable topic right? But people feel even more uncomfortable talking to their kids about credit cards!” Simonini said.
Simonini says our schools really aren’t talking about money either. He was a star student at Billerica High. He earned a full scholarship to the University of Massachusetts-Lowell.
“But I couldn’t tell you anything about my taxes,” Simonini said. “Couldn’t tell you what a credit score was. What a 401k was.”
So, the 19-year-old college sophomore is on a mission which started in high school, when Simonini joined his town’s school board as a student representative. Lately, he’s been testifying at the State House pushing a bill which would make a standalone, financial literacy class a requirement for every student in every district. The classes and teacher training would be funded by the State, not the local communities, with a so-called “financial literacy trust fund.”
“I started pulling together what would an education look like, where every student walked away with the skills they need to succeed. One of the first gaps I saw staring back at me was the lack of financial literacy here in the Commonwealth,” Simonini said.
Right now, 25 states have financial literacy as a graduation requirement. Massachusetts isn’t one of them. Yet our neighbors in New Hampshire, Connecticut and Rhode Island do require the course. Champlain College in Vermont has a Financial Literacy Center and puts out a report card every year grading each state on their efforts. Twenty-nine states got an ‘A’ or ‘B’. Massachusetts got an ‘F.’
Why? Well, out of more than 300 school districts in our state, only 16 districts require students to pass personal finance class.
Simonini says we are setting kids up to take on a lifetime of debt without knowing the ramifications. “We are allowing 18 year-olds to sign off on loans that are half a mortgage. Hundreds of thousands in an instant. And we are not orienting them at all to the financial impacts that can have on them decades down the road,” Simonini said.
Sue Camparato is teacher in Swampscott who believes Massachusetts is falling way behind other states. Swampscott is one of the districts that requires a personal finance class. Camparato teaches her students about credit scores, interest rates, stocks, how to save money and how to file taxes.
“I never have anyone say, ‘When am I going to use this?’ Never,” Camparato said.
One of her students, Sam Snitkovsky says this education has never been more important. He says kids are constantly targeted on sites like TikTok by so called money gurus peddling financial fiction.
“This information isn’t coming from like ‘user3015.’ It’s coming from an actual teacher in the school, and you know the information is true,” Sam said.
Simonini thinks our lawmakers mistakenly think students are learning about money at home or in the nearly extinct “home ec” classes they took. “Over 50% of parents in this country don’t feel comfortable talking to their kids about money,” Simonini said.
State Treasurer Deb Goldberg leads the state’s Office of Financial Empowerment which offers a ton of free programs outside the class for young children all the way through senior citizens. “When we do our Credit for Life fairs for high school students, it is amazing what they don’t know,” said Goldberg.
Goldberg also believes a financial literacy course should be a requirement and is hoping lawmakers will move on the issue.
Goldberg believes a public-private partnership between Beacon Hill and outside partners could pay for the programs in every district. There are certainly hurdles to clear but she and Simonini think it’s needs to happen. Massachusetts cannot get an “F” on its next report card.
If you have a question you’d like us to look into, please email questioneverything@cbsboston.com.
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Massachusetts
Naughty list: Massachusetts ‘idiot’ gets stuck in chimney while trying to evade police
Ho-ho-no!
A Massachusetts man got himself stuck inside a chimney while trying to evade cops Tuesday night in a failed attempt to channel Ol’ Saint Nick.
Officers with the Fall River Police Department attempted to conduct a raid of the man’s Canal Street home in the small New England town — only to be led on a Christmas goose chase.
As the cops knocked on the front door, they saw two men fleeing the home via the roof, according to 10WJAR.
One lept off the roof while the other, Robert Langlias, hopped down the chimney in a maneuver seemingly inspired by Father Christmas.
“[One man] invoked the essence of the seasonal icon and attempted to hide inside of a chimney,” police said in a statement. “[He] quickly became stuck in the chimney and required the assistance of the very detectives he was previously fleeing.”
Bodycam footage shared by the police department shows the moment the responding police officers scaled the roof and confronted Langlias who was deep in the flue.
“You’re an idiot,” said an officer wielding a flashlight as the camera panned down to Langlias, 33, wedged inside the base of the chimney.
The officers confirmed that the suspect was in fact stuck, but able to breathe while they called for the fire department to come and rescue the wannabe Santa Claus.
“Get me out of here, bro!” Langlias pleaded with the same cops he had tried to hide from, according to the footage.
Firefighters can be seen in the video taking apart the chimney brick-by-brick from inside the home as Langlias helplessly waited to be taken into custody.
“Due to his Santa-antics, Langlias was transported to a local hospital out of precaution and was medically cleared,” police said.
The other wanted party jumped off the roof, onto a car, and lammed it before cops could make an arrest and remains at large.
Langlias has been charged with possession of Class A drugs, possession of Class B drugs and a bevy of charges stemming from outstanding warrants.
Tanisha Ibay, 32, is also facing Class A and Class B drug possession charges stemming from the incident after being arrested at the property with little fanfare.
Matt Breen, Shawsheen — After averaging 18 points and nine rebounds per game last year, the 6-foot-9-inch senior forward is primed for another big season. He’s a mobile big man who excels as a rim protector.
Will Carty, Watertown — A dominant force in the paint, the 6-10 center averaged 16 points, 12 rebounds, and 3 blocks per game last season. His presence makes the Raiders a threat in Division 3.
James Dingman, Arlington — The senior is positioned for another stellar season after averaging 20 points per game last season. At 6-3, he’s a versatile wing who can slash to the rim and shoot over the top.
Mike Dankert and Nate Reynolds, Bourne — The two 1,000-point scorers return for their senior seasons after powering the Canalmen to the Division 4 final. Reynolds is the reigning South Coast Conference MVP after averaging 20.7 points, 12.9 rebounds, and 2.9 blocks per game last year. A versatile wing, Dankert put up 18 points per game.
Matthew J. Lee/Globe Staff
Matt Gaffney, Malden Catholic — The Naval Academy-bound senior point guard paced the Golden Tornadoes to their third consecutive Division 2 title last year. He has Malden Catholic poised to make a run at a historic fourth.
Javi Lopez, Central Catholic — After averaging 19 points and six rebounds for the Raiders, the 6-1 junior enters the season as one of the state’s premier guards.
JJ Martinez, St. Mary’s — A returning Globe All-Scholastic, Martinez averaged 19 points, 8 rebounds, 5 assists, 3 steals, and 2 blocks. Now a junior, he has started for the Spartans since eighth grade.
Caden Sullivan, Franklin — The Panthers are a Division 1 favorite once again, and Sullivan is a major reason why. The 6-1 senior guard averaged 13.5 points, 4.5 rebounds, 2 assists, and 1.7 steals last season, and is committed to play at Endicott.
Teagan Swint, Newton North — The reigning Bay State Carey MVP, Swint is one of the state’s most dynamic scorers. A 6-4 senior guard, he averaged 24 points and seven rebounds per game.
Other names to know: G Isaiah Andino (Methuen), F Niko Catalano (North Andover), G Jack Charchaflian (Winchester), F Sam Concemi (Andover), G Aaron Cote (Wareham), G Jaydaan Correia (Cambridge), F Carson Gretz (Newburyport), G Justin Marino (Medford), Jack Millward (Wakefield), G Sam Myerberg (Lexington), G Brandon Nicastro (King Philip)
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