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“It’s vital for high school students to be financially literate, because they are the consumers and homeowners of tomorrow,” Rebecca Feickert, a Master of Accounting (MAcc) student, said. Feickert and two other KU School of Business MAcc students recently created projects focused on financial literacy for the USD 259 Wichita Public School District. The students’ projects will be piloted in four Wichita high schools next fall.

“We noticed our students were not making the best financial choices for themselves,” Alice Duwe, a coordinator at the school district, said. To solve that problem Duwe turned to KU School of Business Assistant Professor in Accounting Raquel Alexander. “When she heard what we were trying to do she thought she had some students who could help us,” Duwe said.

“The students jumped at the chance to apply their knowledge in a meaningful way and help Kansas high school students,” Alexander said. MAcc students Kristen Hageman, Taylor Petty and Feickert volunteered to work on the project during the fall 2009 semester as a part of a graduate course project, and finished the project over winter break.

“This project is a great example of service learning in action,” Alexander said. “It is an honor to be asked to participate in such an important endeavor.”

The program will cover topics such as taxes, mortgages, savings and debt. Hageman is confident they will learn to manage their money, too. “Budget, budget, budget!” Hageman said. “I think students will get the opportunity to examine their spending habits. With that, they can set priorities and cut back on wasteful spending in order to achieve their financial goals.”

 Feickert knows financial competency is more important now than it has been for quite some time given the state of the economy. “It’s crucial that young adults practice fiscal responsibility,” Feickert said. “I want students to realize that financial literacy is an important aspect of their future.”

The school district seconds Feickert’s opinion on the future. Duwe said she hopes the MAcc students’ projects, along with other work, will give students enough information to make sound financial decisions while in high school and for the rest of their lives.