Imagine where we would be today if the current economic crisis could have been averted or at least lessened. What if we started, in the middle school, teaching students about the financial responsibilities of home ownership? I watched this teaching occurring at Turning Point Learning Center on a recent visit. The students were learning about mortgages, interest rates, foreclosures – the language of economics. Prior to my visit, the students had selected a career, explored degree requirements, colleges, costs, and salaries. They had each prepared a budget and were now ready to purchase a house. The search began with consideration of their housing needs and then proceeded on to a local realtor company’s website, where each student found a house to meet their needs. Considerations included price, size, value, and location.
On the day of my visit, a local realtor had come to visit and share her expertise about buying a home. Together she helped the students explore a mortgage website, where they calculated the loan payments for their home over 30 years. She talked with the students about principle, interest, and payments while encouraging students to remember they may not want to borrow as much money as the bank is willing to loan them. Part of the research for this project included looking up the property value and property taxes, to be included in the budget.
Definitely the fifth graders at this middle school had glassy eyes by the end of the lesson. Several of the older students were “getting it”. I could tell when one student compared paying off your loan early to eating your cheeseburger more quickly. Another likened it to returning in rented DVD back so you don’t have to pay a late fee. These practical comparisons reflect the depth of knowledge generated by these students.
Hmmm, what would happen if some of the adults in financial difficulties had learned these economic principles earlier in life? Maybe there would have been no crisis at all.
"Glassy eyes." I like that.
ReplyDeleteTo me, it's important to stretch kids maybe just a tad further than they're able to go, while supporting them emotionally. It helps with their future elasticity and certainly helps them realize that learning isn't easy, it's a process, and that sometimes, we have to try, try again.
Since that day, we've had many private sessions to help them along. While a few still don't completely "get it," they're starting to get the big idea and will pick it up the details the next time around. I'm not sure that everyone has to be on the same page all the time.
Thank you for capturing this moment of Optimal Ambiguity.