High schoolers face many complex financial decisions, yet according to recent research, one in five lack even basic financial literacy skills. Researchers at one institution of higher learning are of the strong belief: this must change. Driving this change, the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business unveiled Fast Lane in March 2019, a bold tech-based initiative aimed at expanding financial education in high schools across the U.S. Fast Lane seeks to energize a community-based movement whose goal is preparing the next generation of Americans for a brighter financial future.
The website serves as a free, easy-to-use online resource center with customized toolkits for anyone interested in promoting financial education in schools. Fast Lane’s platform links research and technology. It provides proven strategies to build or enhance a program using the latest in education technology, including simulations and games. By uniquely centralizing resources all on one website, they offer the digital tools needed to provide financial education in schools.
Additionally, the website affords a distinct service in that it offers tailored resources for teachers, policymakers, school administrators, parents/guardians, community members, and students.
“Financial literacy is an essential skill for students; it’s as necessary as reading and writing. From student loans to credit cards, every student will face consequential financial decisions, and yet just a fraction of students receive the education they need to make these decisions,” said Dr. Annamaria Lusardi, Academic Director of GFLEC. “Through extensive research, we have identified the many barriers that prevent high school financial education. We seek to remove these barriers by offering Fast Lane.”
As a result of their efforts and recognizing their import, the site was named a Winner of the Cool Tool Award for “Best Curriculum and Instruction Solution” as part of The EdTech Awards 2020 from EdTech Digest.