In just a couple of weeks, it’s back to school for students and for those entering Grade 10, they face a revised Career Studies Course.
Nipissing MPP Vic Fedeli says this revised program will help students focus on the jobs of the future.
The course is mandatory in order for a student to get his or her high school diploma.
One component of the new program is the financial literacy section, something Fedeli pursued when he was an Opposition member at Queen’s Park.
“It’s critical,” Fedeli said.
“I believe no high school student should graduate without a full understanding of financial literacy. When you get your first cell phone in your name or your first credit card in your name and you miss a payment, what it’s done to your credit rating takes seven years to repair.”
Fedeli says that’s why young people with a poor credit rating end up paying more when buying a car for example. They will be charged more interest than a person with a good credit rating.
Fedeli says it’s important that young people learn about these financial literacy matters before they become adults. He says this way they may be less prone to making decisions that cost them money needlessly.
“We’ve taken it upon ourselves as the government to make sure our children have the right education, the right tools to understand what financial literacy is as they move on,” Fedeli said.