Chicago to be named ‘model city’ for financial education

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CHICAGO – Secretary of Education Arne Duncan will dub Chicago the first “model city” for financial education today.

Officials want to develop a program by summer, to teach kids and adults money sense.  The courses will aim to teach topics like debt, credit and how to put together a household budget.  They’ll also teach investment strategies and saving for retirement.

The classes will be taught through community programs with the first pilot classes to start in the Fall.

Critics say the classes may not change consumer behavior, but those in favor of the classes say, early education is key.

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