Sometimes it takes years before the students in Kathy Stobbe’s consumer education class at Schaumburg High School appreciate what they’ve learned. Their initial response to the class might be, “Oh, this is so boring,” Stobbe said. Later, she’ll hear from them again.
“Guess what?” Stobbe said they’ll tell her. “I just got a checking account, and I remember what you told us about it, and you were right (about needing to know about personal finance).”
A unit in consumer education has been required for Illinois high school students for about 20 years. Some schools include the unit in an economics or business class. Others, like Schaumburg, make it a separate class. Whatever the format, the subjects covered generally include budgeting, loans, insurance, the U.S. economic system, credit, saving, investing and being a smart shopper.
“I tell parents that this is the most practical class their child probably will take in high school,” Stobbe said. “Many kids already have credit cards, with parental authorization. When they go off to college, they’ll have to learn how to budget, and they have to know how to avoid bad contracts because when you’re 18 you’re old enough to (sign) contracts. These are all things they’re going to need to know. It’s really a great course.”
Several consumer education instructors said the most popular section of the class is insurance, particularly car insurance. It’s a subject many teens are struggling with in their personal lives, and they appreciate learning why rates are so high for them.
