Financial Education Requirements Soar in America’s High Schools

Opportunities have greatly improved for young people across America to learn the essential personal finance knowledge they need to reach their full life-long economic potential.

According to the Council for Economic Education’s latest biennial Survey of the States, more than two-thirds of all states are now requiring personal finance classes for high school graduation -- up dramatically from 2022 when fewer than half the states had such mandates.

Of those, 15 states require a semester-long course on personal finance.

The 2024 Survey found that 35 states now require students to take a course in personal finance to graduate, up by 12 since 2022.

The new regulations in those dozen states will lead to over 10 million additional K–12 students – 21 percent of current students – gaining guaranteed access to this knowledge, the survey notes.

“It’s been a banner two years for young people’s financial knowledge and futures,” said Nan J. Morrison, CEE president and chief executive officer.

Morrison added, “Requiring all high schools to teach principles of personal finance and economics and all students to study it creates equity and possibility. Putting life-essential financial knowledge into the hands of more and more kids is cause for celebration.”

States that added personal finance requirements since the previous Survey include Connecticut, Indiana, Louisiana, Minnesota, Montana, Oregon, Pennsylvania, West Virginia and Wisconsin in 2023 and Florida, Michigan and South Carolina in 2022.

In the equally important field of economics, three more states – 28 – now require some study for high school graduation, the Survey found, with some states implementing it through redesigned social studies, civics or government courses rather than an all-new class.

As former U.S. Treasury Secretary Robert Rubin says in the 2024 Survey report,

“Teaching our students the basics of economics and personal finance helps them make more thoughtful choices. The more individuals who make better choices, the greater the probability that we will have a resilient economy and a more effective political system.”

States that require neither personal finance nor economics for high school graduation include Colorado, Massachusetts, and Washington.

Medical University of South Carolina Joins the Guardian Research Network

 Guardian Research Network, Inc. (GRN) said the Medical University of South Carolina (MUSC) joined its nationwide consortium of healthcare organizations as the first academic medical center member.

Officials said the strategic collaboration will augment GRN's mission to expedite cure discovery and care improvements, as well as MUSC's mission to fuel research, education, and innovative care for improved patient outcomes.

"Partnering with GRN will allow for greater insights through expanded benchmarking, increased collaboration with their network of researchers across the country and greater diversity of data, paving the way for our team to expand our innovative research efforts to other states," said Patrick Cawley, M.D., CEO of MUSC Health and executive vice president for Health Affairs at the Medical University of South Carolina.

Officials said the affiliation also contributes to GRN's real-world data (RWD) that has the potential to improve the health of millions of patients across the country.

GRN's pool of RWD is used to pioneer discoveries in effective treatments for cancer and other life-threatening diseases.

"Adding a prestigious academic health system elevates the entire GRN network," said Bruce Holstien, GRN's chief executive officer.

Holstien added, "Their innovative leadership, clinical excellence and research expertise will add another dimension to our network as we all work together to create the next generation of care."

Nine Local Charities to Benefit From 2024 Myrtle Beach Classic

Nine local social service charities have been selected to receive a grant from revenue generated by the inaugural Myrtle Beach Classic, scheduled May 6-12 at the Dunes Golf and Beach Club, meaning the event will not only showcase the Grand Strand, but also benefit the area. A total of $225,000 will be allocated for 2024.

“The charities selected are all doing impactful and meaningful work, and we are proud to provide assistance to further promote these programs that are making such a huge difference on the Grand Strand,” said Darren Nelson, tournament director. “The PGA TOUR has a time-honored tradition of supporting charities and giving back to each community where events are hosted.”

Tournaments under the PGA TOUR umbrella donate their net proceeds each year to support local philanthropic organizations, totaling close to $4 billion to date, which is more than all other major sports leagues combined.

"We are extremely grateful,” said Barb Mains, who founded the Help 4 Kids charity in 1989 and has been leading the organization for 35 years. “Oh Lord, that money will go a long way. It will help us feed the kids for two months. Our kids won’t have to go home from school for the weekends without food.”

A fully volunteer organization where 100 percent of every donation goes to the charity, Help 4 Kids currently delivers food to 40 Horry County schools and feeds more than 3,000 children each week.

Teachers discreetly place food sacks into the students’ backpacks on Friday afternoon so they have something to eat on the weekend. In addition, Help 4 Kids provides school supplies, blankets, clothing and coats. 

Additional charities selected are Blue Star Mothers of Coastal Carolina, Boys and Girls Clubs of the Grand Strand, Champion Autism Network, Children’s Recovery Center, Classy Smiles, Helping Hand of Myrtle Beach, Project Golf, and SOS Care.

All of the benefitting charities have 501c3 status, meaning they are non-profit, tax-exempt groups with a dedicated mission.

“This is a game-changer for us,” said Becky Large, executive director of Champion Autism Network, a program that helps to create judgment-free experiences for people living with autism.

Large added, “We support more than 900 families in Horry and Georgetown counties who have someone on the autism spectrum. We can use these funds to create awareness and serve even more people.”

The Myrtle Beach Classic is a dual-field PGA TOUR event sponsored by Visit Myrtle Beach and managed by Sportfive, a global event management company.

The local event will be one of two stops in the Palmetto State for the PGA TOUR in 2024, joining with the RBC Heritage in April at Harbour Town Golf Links.

A Robert Trent Jones-designed course, the Dunes Club was incorporated in 1948. It was host to the season-ending Charles Schwab Cup Championship on PGA TOUR Champions from 1994 to 1999, with notables Raymond Floyd, Jim Colbert, Jay Sigel, Gil Morgan, Hale Irwin and Gary McCord claiming titles.

Twenty-one years earlier, the Dunes Club was the site of PGA TOUR Q-School Finals in 1973, with Ben Crenshaw taking medalist honors.

IRS: Interest Rates Remain Same For Second Quarter of 2024

The Internal Revenue Service announced interest rates will remain the same for the calendar quarter beginning April 1, 2024.

For individuals, the rate for overpayments and underpayments will be 8 percent per year, compounded daily.

Here’s a complete list of the new rates:

* 8 percent for overpayments (payments made in excess of the amount owed), 7 percent for corporations.

* 5.5 percent for the portion of a corporate overpayment exceeding $10,000.

* 8 percent for underpayments (taxes owed but not fully paid).

*10 percent for large corporate underpayments.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis.

For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus three percentage points.

Generally, in the case of a corporation, the underpayment rate is the federal short-term rate plus three percentage points and the overpayment rate is the federal short-term rate plus two percentage points.

The rate for large corporate underpayments is the federal short-term rate plus five percentage points.

The rate on the portion of a corporate overpayment of tax exceeding $10,000 for a taxable period is the federal short-term rate plus one-half (0.5) of a percentage point.

The announced interest rates are computed from the federal short-term rate determined during January 2024.

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