Advancing Financial Literacy
The Results
Personal financial literacy was integrated into K-12 Social Studies and will be implemented in the Essential Standards for 2012-2013.
“Advanced Money Management for Community College Students”, an online financial coaching tool to assist students with making wise decisions about borrowing money to advance their education, was developed and launched.
During her first term, Treasurer Cowell’s accomplishments in advancing financial literacy included the following:
Educated College Students on Credit Card Debt
In 2009 and 2011, Cowell visited many of North Carolina’s institutions of higher learning to educate students on managing student debt.
Promoted Responsible Borrowing by Community College Students
Treasurer Cowell partnered with Community Colleges and the State Education Assistance Authority to develop and launch “Advanced Money Management for Community College Students”, an online financial coaching tool to assist students with making wise decisions about borrowing money to advance their education.
Promoted Financial Literacy among K-12 Students
In 2009, Cowell helped to pass legislation requiring that “each student shall receive personal financial literacy instruction that includes credit, managing a credit card, borrowing money for large purchases, and credit scores and reports.”
Personal financial literacy was integrated into K-12 Social Studies and will be implemented in the Essential Standards for 2012-2013.
Promoted Financial Literacy for All North Carolina Citizens
In 2010, Treasurer Cowell launched a Financial Literacy Tour for local government officials across North Carolina. During the tour, Cowell discussed the need for Financial Literacy in the workplace, resources offered by the Department, and ways to enhance employee preparation for retirement.
Warned Legislators about Depleting the Escheats Fund
Treasurer Cowell warned the General Assembly to stop raiding the Escheats Fund, thereby depriving North Carolina college students of important financial aid.
Protected Consumers from Exorbitant Fees
Treasurer Cowell has pushed for legislation that protection consumers against predatory finder’s fees. In June 2010, the Department, through the Attorney General’s Office, sued Equity Solutions, alleging that it charged its customers a fee that exceeds the statutory requirement.
Returned Cash Back to Citizens
Cowell secured almost a half million dollars back from un-cashed rebate checks for customers of a large telecommunications company from 1999 to 2004.
