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Should financial literacy classes be a requirement for Massachusetts students?

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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.

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“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.

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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.

Sue Camparato Swampscott
Swampscott teacher Sue Camparato 

CBS Boston


“I never have anyone say, ‘When am I going to use this?’ Never,” Camparato said.

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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.

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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

Natick Resident Earns Prestigious MassBay Award

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Natick Resident Earns Prestigious MassBay Award


News release from MassBay Community College.

WELLESLEY HILLS, MA — MassBay Community College 2024 graduate Michal Grinis of Natick, MA, has been awarded the esteemed Foster Furcolo Award. This Award is presented annually to one graduate from each of Massachusetts’ 15 community colleges who exemplifies outstanding academic achievement, leadership and commitment to community service. The Scholarship is accompanied by a two-year scholarship covering tuition and most mandatory fees to attend the University of Massachusetts Boston.

The Foster Furcolo Scholarship is named after Massachusetts’ 60th Governor, John Foster Furcolo. Governor Furcolo was the first Italian American governor of the Commonwealth, an active promoter of community colleges, and a member of the United States House of Representatives from 1949–1952.

“This scholarship means the world to me because this is my future,” said Grinis. “I am thankful and proud, but was shocked when I received word I had been selected as the 2024 recipient because there were many qualified applicants. When I filled out my application, I thought it would be a slim chance I would be noticed. This shows the importance of sharing your story and raising your voice. Whenever you do that, you will stand out and someone will recognize your hard work.”

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Grinis moved to the United States when she was 11 years old and faced numerous challenges when she and her family relocated for her father’s job, including learning a new language, meeting new friends, and navigating a new community. Her journey to academic success is a reflection of her resilient spirit and determination to reach her goals. Grinis considered various paths after graduating from Natick High, but following in her sister’s footsteps, she came to MassBay to find a career path.

“My family has been an instrumental support system, giving me the confidence to pursue my goals. My dad, in particular, has played a very important and inspirational role in my life. Without my dad’s foresight to come here and start from zero, to create a new life for our family, I would not be here.”

In addition to her family, Grinis credits her advisor for helping her rediscover her love for the law and helping her pivot her career track. “I initially came to MassBay to take classes for a year and then transfer, but I found a supportive community that wanted to help me succeed and find my passion in life. My advisor, Cheryl MacMillian, was always available and helpful in guiding me,” she said. “Also, with MassBay Transfer Advisor Karen Akukwe’s help with coordinating all the details to transfer to UMass Boston, I was able to reach my goals and move at my own pace to get where I wanted to be.”

Grinis will be graduating from MassBay in May with her Associate in Arts degree in Liberal Arts. She will transfer to UMass Boston to pursue a bachelor’s in political science with the goal of attending law school and becoming an attorney.



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Massachusetts State Police arrest alleged drug traffickers in possession of multiple guns, magazines, ammunition

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Massachusetts State Police arrest alleged drug traffickers in possession of multiple guns, magazines, ammunition


State Troopers have arrested two Massachusetts men on a list of charges.

According to Massachusetts State Police, in the early morning hours of May 12th, Trooper Austin Rose was conducting traffic enforcement on Route 27 in Brockton as part of the SP Milton-Barracks midnight shift. While in traffic, Trooper Rose clocked a Toyota SUV travelling 10 miles per hour above the posted speed limit.

 

Trooper Rose conducted a traffic stop of the Toyota which had turned onto Westgate Drive and approached the operator, 20-year-old Jaziah Rivera of Weymouth. When asked by Trooper Rose if Rivera knew the speed limit, Rivera gave confused responses and handed Trooper Rose his entire wallet instead of his driver’s license. Trooper Rose also smelled an odor of burned marijuana emanating from the interior of the vehicle.

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Trooper Rose asked Rivera about the contents of two bags in the rear seats of the vehicle. Rivera and a passenger of the vehicle agreed to show Trooper Rose the contents of the bags. After showing Trooper Rose the contents of the first bag, Rivera grabbed the second bag and tried stuffing the contents deeper into the zippered pockets. Rivera placed the bag on his lap and continued to manipulate what was inside without showing Trooper Rose. Uncertain of what could be contained inside and for the safety of those on scene, Trooper Rose removed the bag from Rivera’s lap and placed it onto the hood of the Toyota.

 

Now backed up by Trooper Autumn Mederios, Trooper Rose shined his flashlight onto the bag and was able to see a pistol magazine inside. The Troopers ordered Rivera and his passenger out of the vehicle and placed them into handcuffs. Neither Rivera nor his passenger possessed a license to carry firearms. Rivera and the passenger were secured in cruisers on scene.

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With the discovery of the loaded magazine, Troopers Nathan Pereira, Matthew McCarthy, and John Buckley responded to Westgate Drive. Trooper Rose returned to the bag on the hood and removed a 30-round 9mm Glock magazine, and several digital scales with a white powder residue.

 

A search of the vehicle discovered a tan Glock 17 with an inserted 17-round magazine, a Smith & Wesson 9mm handgun with an inserted 17-round magazine and round in the chamber, an additional 30-round 9mm magazine, two 17-round 9mm magazines, a 6-round 9mm magazine, thirty-nine 9mm rounds, and several bags of crack cocaine. An additional bag of crack was discovered on the passenger’s person, totaling nearly 19 grams within the vehicle at the time of the traffic stop.

Jaziah Rivera and his passenger, 18-year-old Jazavier Rivera of Brockton, were placed under arrest and transported to the Milton barracks to be booked, fingerprinted, and photographed.

Jaziah Rivera and Jazavier Rivera were arraigned in Brockton District Court on charges of Trafficking In Cocaine, Conspiracy To Violate Drug Law, Possession Of A Firearm Without FID, Possession Of Ammunition Without FID, Possession Of A Large Capacity Firearm During A Felony Offense, Possession Of A Large Capacity Feeding Device, and Carrying A Loaded Firearm.

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 Jaziah Rivera faces further charges of Possession Of A Large Capacity Feeding Device (Two Additional Counts) and Speeding.



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Median price for Massachusetts home now $950,000 and more top stories

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Median price for Massachusetts home now $950,000 and more top stories


Median price for Massachusetts home now $950,000 and more top stories – CBS Boston

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