A bill passed during Nevada's last legislative session requires Nevada students in public high schools to learn about economics and financial literacy. But a report from the nonprofit, nonpartisan Milken Institute shows many people across the country, young and old, lack the basic knowledge to make smart financial decisions.

Sal Khan, founder of the Khan Academy, said in order to bridge the equity gap around the country, it has partnered with Capital One to offer a free financial education program that is available online.

"Before I even started tutoring my cousins and started Khan Academy, I worked in finance," he said. "I saw the gap that was there, even among folks with professional degrees and college degrees, but we were always looking for a way to resource this and to really get it into the classroom."

Khan added the virtual course allows individuals to learn at their own pace and from wherever they choose. According to the FINRA Foundation, people with higher financial literacy are less likely to have late fees or make only minimum payments on their credit cards.

Kerone Vatel, head of community impact and investment with Capital One, said younger generations across the country are experiencing "angst" when it comes to what she calls "adulting." She added Capital One is excited to join Khan Academy to help people of all ages foster financial wellbeing. Vatel explained there are a lot of things to navigate in today's world, from student debt and credit-card debt to eventually figuring out whether to purchase or rent a home in today's economy.

"So there is a very practical fallout from this," Vatel continued. "We see from research that students who engage in high-quality financial literacy education are twice as likely to save. We know that unexpected things happen in life. Two years ago, I had a major health scare."

The lessons and curriculum, independently developed by Khan Academy, will help people take better control of their finances and let them examine their own spending habits to foster saving over time, Vatel said.

A group of West Virginia Democratic delegates is calling for a special session to address West Virginia University's budget shortfall.

Del. Evan Hansen, D-Morgantown, said the legislature shares responsibility for the university's budget crisis, which has resulted in plans to slash 143 faculty positions and eliminate nearly 30 majors. The university's board approved the cuts last week.

Hansen pointed out that over the years, the university's funding has declined by tens of millions of dollars, and added people statewide will feel the impacts of a diminished university system.

"It's a big hit on the local economy and on the regional economy, and for the families of people who are losing their jobs," Hansen noted. "Across the state, there's a lot less discretionary funds available for various programs that provide services in counties all across West Virginia."

The university is facing a $45 million deficit, which its president, E. Gordon Gee, said is due to declining state funding and decreased enrollment. In addition to Hansen, three other delegates are asking the governor to call the legislature into session to support the university.

Hansen emphasized some of the programs targeted for cuts related to diversifying the energy sector and others, have value for the employers and businesses in the Mountain State.

"For example, the public administration program is very important in West Virginia," Hansen outlined. "The parks and recreation program that's being eliminated is something that doesn't make a lot of sense to me, given that we're leaning into an outdoor recreation and tourism based economy. "

According to U.S. Census Bureau data, West Virginia is rapidly losing its population, and is among more than a dozen states experiencing population losses between 2021 and 2022.


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The complex and confusing process of applying to college is thought to be contributing to a decline in the number of high school graduates who go on to higher education. Now, a nonprofit is stepping in with a challenge to those institutions.

In a new survey of 16- to 22-year-olds, more than half said applying for college is their "most stressful academic experience" so far. That led the Lumina Foundation to launch The Great Admissions Redesign.

To improve the application process, said Lumina strategy director Melanie Heath, almost $3 million is being offered to state higher-ed systems, where enrollment has declined across the board "in all types of different degree programs, among all ages of students, among all races of students - particularly for students of color."

In Texas and elsewhere, pandemic disruptions led many typically bound for college to jump into the workforce, where good-paying jobs were on the rise.

More information about The Great Admissions Redesign is online at luminafoundation.org.

In June, the U.S. Supreme Court ruled that consideration of race in college admissions violates the Constitution, effectively ending the attempts by many universities to increase diversity. In Texas, the decision primarily impacts the University of Texas at Austin, where race was considered in undergraduate admissions, along with many private universities.

Heath said changing the decades-old admission process will require a heavy lift.

"Simplifying admissions is not something that can be done institution by institution," she said. "What's really needed is something at the system or state level - or at least, with three or more institutions."

She said proposals will need to demonstrate that the application process would increase college opportunities for students of color or low-income households, and first-time attendees.

Support for this reporting was provided by Lumina Foundation.

By Ramona Schindelheim for WorkingNation.
Broadcast version by Nadia Ramlagan for Kentucky News Connection reporting for the WorkingNation-Public News Service Collaboration

There are more than 63.7 million Latinos in the United States, making it the nation's largest racial or ethnic minority at 19.1% of the total population.

They also make up about 20% of the nation's workforce.

Latinos are the youngest cohort in the country's population with a median age of around 30, while the U.S. population, as a whole, is around 38.5.

Between now and 2030, 78% of the net new workers in the country - people entering the labor market minus the people retiring from the labor market - will be Latino, according to a forecast from the U.S. Department of Labor.

As our economy continues to shift the way we work, more than nine out of ten job postings (92%) in the country now require some level of digital skills development. However, more than half of Latinos (57%) have low to no digital skills.

"These data points show us the very urgent need to make sure that Latino workers get proper access to digital skills training opportunities. We really need to double down on our efforts to make sure that Latino workers, Latino business owners, and the Latino community as a whole, have the right tools to fully participate in the digital economy," says Diego Deleersnyder, associate director for Policy & Research at the Aspen Institute Latinos and Society program.

He leads the Latino Digital Inclusion Initiative, which aims at identifying, developing, and uplifting promising ecosystem approaches that better prepare Latinos to compete in a 21st century digital economy.

Earlier this summer, Latinos and Society released the Aspen Principles for Latino Digital Success, a series of guidelines to inform the design and implementation of effective digital equity efforts targeting the Latino community.

These principles compile the main takeaways from the January meeting of the Aspen Latino Digital Success Task Force, co-chaired by Hector Mujica, Google.org; Juan Otero, Comcast Corporation; and Amanda Renteria, Code for America.

Expanding access to the the digital economy

Deleersnyder says the group envisions the principles and their accompanying questions as a framework for decision makers in the public, nonprofit, and private sectors on how to better support the Latino community in this journey.

"Basically, it's four principles. The first one of them is digital access, which focuses on the aspects that need to be considered when developing policies or initiatives that aim at improving the access to internet and digital devices in the Latino community," he says.

"The second one is around digital skills - a series of guidelines on how to make sure that the digital skills programming aligns with the needs and expectations of the Latino community, understanding that the Latino community is very heterogeneous, and that there is no one size fits all."

The third principle is digital empowerment.

"This is basically to ensure that the private sector, the companies, the organizations, the employers, provide the tools that employees need in order to successfully growing their careers. This is not just about training the people. If the people that get trained don't have proper access, there is no pipeline into high-quality jobs in the tech sector or good jobs in other industries that increasingly require digital skills, then all that effort is for nothing, right?" Deleersnyder continues.

The fourth principle is around sustainability - making certain there are sufficient investments across the capital continuum to support digital equity efforts in the long run.

He explains, "It's a reflection on how right now there is a unique opportunity with all the public funding becoming available for digital equity efforts. And that's amazing. That's great news for all of us. But we need to make sure that we also start thinking of alternative sources of funding, focusing on the importance of securing funding from philanthropy, but also identifying innovative ways of funding some of these programs. And also the discussion around impact, how we can make sure that the dollars are going to the most impactful initiatives, because at the end of the day, the resources are limited."

Deleersnyder points out that given the size and projected growth of the Latino workforce, it is imperative that the public, nonprofit, and private sectors act now to arm that workforce with the skills it needs to succeed.

"If the Latino workforce doesn't have the tools they need in order to succeed in the digital economy, this is going to impact negatively the competitiveness of the U.S. economy, as a whole. So, definitely, this is something of interest not only to Latinos, but to the whole of the U.S economy and the whole of the U.S. society."


Ramona Schindelheim wrote this article for WorkingNation.


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