The Basics: Personal Finance and Planning for High School Students

Did you know that the average credit card debt for incoming college freshmen is over $1,500?

“The fact is we are doing a lousy job of educating our children about finances,” said financial planning guru, Suze Orman, in her testimony in front of the US Senate in February, 2007. “About how money works, about how loans work, and most importantly about being fiscally responsible… It is a failure on our part when we hand money to young adults – be it credit cards or student loans – without truly making sure they understand the mechanics of how these agreements work, and give those young adults the information they need to act responsibly.”

The lack of financial skills and understanding is a serious and growing problem for young people today. Many high school students receive and submit credit card applications, only to go into debt and destroy their credit rating.

The top ranked Rothman Institute of Entrepreneurial Studies at FDU’s Silberman College of Business has been teaching financial planning to high school students for many years as part of its popular Discover Business Teen Camp program held each summer and taught by our faculty. In addition, FDU's highly regarded Financial Planning Certificate Program is one of the largest programs of its kind in the country.

Based on this experience, we have developed, tested and refined an online financial planning program designed to teach high school students the basics of personal finance and planning in an effort to help them through high school, college and beyond. The course covers your financial plan, budgeting, investing, using credit, your money, insurance, and your career.

Participating students who enroll in the certificate program receive a certificate after viewing/listening to the two-hour lecture, completing the post lecture exercises (including one that involves parents), and passing a multiple-choice exam with four essay questions. This achievement can also be listed on your resume. Based on our experience, the estimated time to complete this intensive program is four to six hours.

Additional programs include Creativity & Innovation and Communication, Networking & Etiquette.

Certificate Completion Process

1. Print and complete registration form with parental or teacher signature.

2. Fax form with payment information (or send check) for $145.

3. View lecture (also available as audio podcast)

4. Read and study financial planning text.

5. After payment is processed, exercises and content outline/summary for parents (4 pages) (available en Español) will be emailed to you and your parent.

6. Then email completed exercises to Institute for review to ensure completion and understanding of material. Upon receipt, we will review your answers to ensure adequate understanding of material. We will then email the exam to you within 2 business days.

7. Under the supervision of your parent/guardian/teacher you will be asked to complete an exam (50 questions + 4 essays) within a 1 hour time period. When completed, you will fax us the exam with your parent's/teacher's signature and telephone number to verify it as your work and confirm that they have discussed this topic with you as directed in the exercises.

8. Grading: You will need to pass the multiple choice section with an 80% or better grade. We will review the essays to assess your understanding of the material. If you do not receive a passing grade we will give you two more opportunities to take and pass the exam. 

9. When you pass the exam, we will send an email confirmation within one week congratulating you. Then, we will send by mail a certificate awarded by the Rothman Institute of Entrepreneurial Studies and Fairleigh Dickinson University. The certificate will be processed within three weeks. In addition to adding this achievement to your resume, your certificate can make you eligible to receive discounts for financial services and/or a complementary financial planning consultation.

B. Download, read and print NEFE High School Financial Planning chapters (110 pages)
(We recommend hole-punching them and securing them into a 3 ring binder for easy reference)

Chapter 1: Your Financial Plan  (14 pages)
Chapter 2: Budgeting (12 pages)
Chapter 3: Investing (14 pages)
Chapter 4: Using Credit (18 pages)
Chapter 5: Your Money (20 pages)
Chapter 6: Insurance (16 pages)
Chapter 7: Your Career (16 pages)

C. Watch video online or download to your mobile player (1:58)
[Flash versions: Part 1 (36 min.); Part 2 (34 min.); Part 3 (48 min.)]
(DVD is also available by request) Audio podcast

D. Complete exercises and email them to us.

E. Receive and take exam; then fax to us (scanning and emailing a PDF document is also an option).

F. Await grade, within 2 weeks. Certificate will be mailed within 3 weeks of grade confirmation.


NOTE: This program is available free of charge if the student does not want the Institute to assess their tests and essays, or issue a certificate. In our experience, the assessment process and the resulting certificate are important markers for student success.

Our goal is to educate young people about personal finance and money management. If that can be accomplished without faculty guidance or the goal of a certificate, the material is available at no cost.