Study: Native American students need money skills

Vermillion, South Dakota (AP) 1-09

A University of South Dakota Government Research Bureau study indicates many Native American students are deficient in developing financial skills.

The report examined the financial skills of youths at high schools with large Indian populations in South Dakota, Montana and New Mexico. Ninety-three percent of the students surveyed failed, scoring low in all five financial literacy categories: income, money management, spending, savings and credit.

The report suggested placing culturally competent curricula in Indian-serving schools, educating parents and school officials about the value of financial education, and increasing chances for youths to manage money and take responsibility for their financial decisions.

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