Title
Recognizing the month of November as Financial Awareness Month in the City of Philadelphia.
Body
WHEREAS, Philadelphians must confront complicated financial decisions at a young age in today's demanding financial environment predatory loans, lack of credit awareness, and financial mistakes made early in life can be costly; and
WHEREAS, People often find themselves carrying high amounts of student loans or credit card debt can and have hindered people's ability to accumulate wealth; and
WHEREAS, Financial illiteracy tends to impact persons with predatory financial institutions or practices; and
WHEREAS, Pennsylvania grade on the Center for Financial Literacy's 2022 National Report Card is a C this shows a lack of financial literacy education standards; and
WHEREAS, Research by the National Financial Literacy and Education Commission has found that external factors, such as socioeconomic circumstances, limited access to a wide range of economic opportunities or financial products, and early experiences with adversity, can limit opportunities for youth to acquire personal financial capabilities"; and
WHEREAS, Many of Philadelphia's are doubly disadvantaged regarding gaining financial literacy, given the lack of formal education opportunities and the personal economic adversity many face; and
WHEREAS, Increasing financial literacy amongst Philadelphians is especially important given the current average debt a student in Pennsylvania faces when they leave school is roughly $35, 385 which makes Pennsylvania one of the highest states for student debt; and
WHEREAS, It therefore crucial that Philadelphians seeking a higher education know how much debt they may incur when deciding which school to go to and understanding the ability to repay those student loans when choosing a major; and
WHEREAS, The School District of Philadelphia is part of the Commonwealth of Pennsylvania's education system, which is not one of the 22 states across the nation that require...
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