In 2011, the Center for Financial Literacy at Champlain College held a summit to discuss the state of financial literacy, K–12 financial education, and the policy environment in Vermont. Stakeholders participating in the summit included K–12 educators, school leaders, academics, and government officials. The Center developed a national report card that graded each state’s efforts to improve financial literacy in high school. They gave their state of Vermont a “D.”
On learning how poorly it was doing, Vermont established a task force, launched in 2014 by Champlain College’s Center for Financial Literacy, to develop a strategy to improve financial education efforts. In 2015, the Vermont Financial Literacy Commission was created. The commission collected testimony to understand the current state of financial education and demonstrate the need for programs. The commission produced a report of their findings and recommendations in 2017 and 2018. Through a Financial Literacy Working Group, Vermont will continue to evaluate how financial education is delivered. This success story shows the value in doing assessments that serve as a baseline against which to measure efforts to improve financial education.