7 Report Body of Report

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Introduction:
This report provides information about the necessity of a mandatory life skills course for
freshmen students at the University of West Georgia. The life skills course should
include but not be limited to: financial aid (including how to apply for loans and file
taxes), critical analysis and critical reading. Although a public speaking course is
already required by the University as well as UWG 1101-First Year Univ. Experience,
many of the courses that teach technical and financial skills are centered in the College
of Business and therefore inaccessible to a majority of students.
The ability to be financially independent as well as properly communicate in a business
setting is a universal necessity that incoming freshmen and outgoing seniors lack.
According to a study performed by the Council for Aid to Education, four in ten U.S
college students graduate
today without learning
complex reasoning skills
necessary to today’s
workforce. The study
concludes more than 31,000
students, freshmen scored on
average 31% below and 32%
basic when measured for
critical thinking and written
communication. Only 37% of
freshmen scored proficient or
higher. The test then
compares these statistics to
seniors to determine critical
development after four years
and found that 14% of seniors
were below average, with
26% having basic skills and 61% having proficient or higher critical and
communication skills (Belkin). While improvements are shown from the
percentages the prospected growth of skills from seniors is disparagingly low.
While the University has enacted the Quality Enhancement Plan, a specific course is
needed to ensure that all freshmen receive proper instruction in critical thinking as well
as the development of fundamental life skills such as applying for loans and balancing a
checkbook. These skills are transferable to college graduates looking to enter the
workforce.
Illust. A.1

Crystal Shelnutt April 14, 20152
Purpose:
The purpose of this report is to suggest the installation of a mandatory course for all
freshmen. The course will focus on critical thinking and written communication as well
as establishing a working knowledge of independent adult skills in finance. According to
a study by the Council for Economic Education, only 13 states require high school
students to take a personal-finance class in order to graduate.
A pole by investment bank Charles Schwab has also found that 86% of students
between the ages of sixteen and eighteen agree “they would rather learn about money
management in the classroom than make financial mistakes in the real world” (Bortz).
The need for a curriculum designed specifically to prepare students for life and
workplace skills is lacking and has the potential to ensure that students graduate with a
fundamental understanding of basic adult and business skills.
Methods:
The methods used to conduct this report include several interviews with staff and
current University of West Georgia Students as well a grouping of high school seniors
preparing to enter college in the fall of 2015. This report also includes several
references to studies conducted by individuals concerning the lack of feasible financial
and life skills of graduates including employers, investment banks, and mass media
outlets. An examination of current University courses will reveal the disparity of financial
classes to the mass majority of the student body. When conducting this research the
results proved that a need for a life skills/ financial course has been recognized by
several other University systems and the issue has either been resolved or modified to
meet the growing demand for graduate financial and business credibility.
Results:
Information gathered from outside sources underline the necessity for the inclusion of a
life skills/financial introductory course for freshmen students. As previously remarked,
according to a study performed by the Council for Aid to Education, 4 in 10 U.S college
students graduate today without learning complex reasoning skills necessary to today’s
workforce. The study concludes more than 31,000 students, freshmen scored on
average 31% below and 32% basic when measured for critical thinking and written
communication. Only 37% of freshmen
scored proficient or higher. The test then
compares these statistics to seniors to
determine critical development after four
years and found that 14% of seniors were
below average, with 26% having basic skills
and 61% having proficient or higher critical
and communication skills (Belkin).

A study conducted by the Council for Economic Education has found that only 17 states
offer mandatory personal finance courses or require it to be built into an economic or
civics course in order to
graduate. Georgia does
require an economic course to
be taken but does not have a
personal finance course
requirement outside of its
inclusion in the Economic
curriculum. The CEE also
notes that in 2014 “only 6
states [Georgia excluded]
require the testing of student
knowledge in personal
finance, only one more than in
2011. An interactive video
created by the CEE presents
the statistics for the 2014
year, confirming the necessity
of financial/ life skills courses
in the United States.
Only 22 states require a
high school course in
economics and while
Georgia is one of them
as a graduate in 2012
just two years after this
survey I can conclude
that the economics
course did not contain
relevant information to
such activities as filing
taxes, applying for loans
or the management of
personal finances.
This severe disparity between states that do and do not require a financial aid course
further indicates the necessity for colleges to ensure their students.
Illust. B.1
Illust. B. 2

The CEE’s 2014 Survey of
the States also includes
statistics for the growth of
economic/financial courses
in the United States on a
state by state basis. In
2002, 27 states require
student testing in
economics.
However, in 2014, only 16 states
require student testing in economics,
meaning that in twelve years (almost
the entire span of a child’s mandatory
education) 11 states remanded their
curriculum to where it is not required
students learn basic economics.
Alan Greenspan, 13th Chairman of the Federal Reserve, argues that “The number one
problem of today’s generation and economy is
the lack of financial literacy” (CEE). The
Council for Economic Education further
concludes that student debt has tripled
between 2013 and 2014, a key indication of the
rising cost of tuition and the inability college
students to monetarily orientate themselves.
Illust. B.3
Illust. B.4
Illust. B.5

Statistically speaking, the University of West Georgia caters to roughly 12,000 students
with approximately 9,000 undergraduates. An interactive map on the Cappex student
website concludes that 1,841 freshmen from the University of West Georgia live in or
are originally from Georgia. This suggests that approximately 97% of the freshmen on
campus were not required to take a life skills/ financial course outside of basic
economics to graduate high school.
An examination of other colleges leads to the conclusion that many others have noticed
the disparity between students entering and graduating who lack financial and critical
analytical skills. Harvard and Boston College professors offer testimonials that
encourage the introduction of life skills courses on campus based on the heartening
responses of their students to seminars and workshops now offered. Julia Fox, a
professor at Harvard, notes that “the response so far has been, in a word, gratitude”
(Julia Fox qtd. Bradt). Further investigation into the lack of adult life skills high school
graduates have will reveal the need for mandated university education in finance, critical
thinking and effective written communication.
A poling of University students and local high school seniors will also be assessed to
determine the validity of the expansion of our curriculum to include a course designated
towards teaching freshmen financial/ life skills.
Illust. C.1

In this pole conducted on University of West Georgia students (13 respondents total
with 38.4% freshmen, 30.77 % sophomore and 30.77% juniors) the statistics reveal a
feeling of inadequacy in financial, time, technical communication skills with 2 out of 13
students claiming they believed high school had prepared them, and 11 believing
themselves to be underprepared. In hindsight, these 11 also agree that they wish they
had taken a course that focused on these specific skills so that they would have felt duly
prepared for their transition into adulthood.
Taking from the same source, when asked “What skills do you wish you could learn
before graduating?” several of the answers coincided with the proposed curriculum that
would be established by a life skills/ finance course.
The survey further concluded that 61.54% of those polled were unopposed to the
college offering a mandatory life skill course for freshmen, with only 38.46% opposed.
The readiness of the student
body to accept the introduction
of a life skills/ finance course
points to the necessity of its
inclusion into the current
University of West Georgia
curriculum. With the lack of
high school preparation more
and more college students find
themselves in capable of
conducting basic adult
financial skills such as filing
taxes or establishing budgets.
Illust.
D.1
Illust. D.2

Discussion:
The information provided above directly points to the necessity and desire for the
inclusion of a life skills/ financial mandated course for freshmen students here at the
University of West Georgia. It is crucial that students are instructed in a manner that
promotes the growth and expansion not only of their education, but of the University as
a whole. 97% of the freshmen on our campus were not required to take a financial class
outside their economics course in their high schools that was not also a mixture of
macro and microeconomics.
1 in 3 U.S adults believe that they have made bad financial decisions based on a lack of
financial education (Survey). Only 6 states, including Georgia, require high school
students to take a personal finance course, however; Georgia includes financial
coursework in their Economics curriculum, which can vary from Macro to Micro. Here, at
the University of West Georgia, a survey conducted in 2013 concludes that 21 percent
of graduates from our University graduated with a degree in Business, Management,
Marketing, and Related Support Services (University). With over 12,000 students and
only roughly 21% taking courses that introduce financing the amount of students that
leave college unprepared for basic adult life skills is unexaggerated.
These students should depart with a working knowledge of finance and the skills
necessary to succeed in the work force; however, a survey of business owners released
by the American Association of Colleges and Universities reveals that nine out of ten
employers found “recent college graduates as poorly prepared for the work force in
such areas as critical thinking, communication, and problem solving” (Am. Qtd. Belkin).
School systems are governed by the states in which they reside and therefore the
chance of a federally mandated financial education override is unlikely. This places the
pressure to provide for financial and life skills education in the university setting.
Given the amount of time and effort students spend in the pursuance of their degrees it
makes sense to ensure their skills are not wasted at the professional level. By providing
students with a mandatory critical development and financial basics course, we can
ensure their education reaps the full benefits of our capabilities as a growing university.

Conclusions:
 63% of incoming freshmen scored basic or below basic in effectiveness in
communication skills (Belkin).
 40% of seniors scored basic or below basic in effectiveness in communication
skills.
 In 2002 27 states required testing in economics, in 2014 only 16 require it to
graduate high school.
 Only 6 states require testing in financial skills and Georgia is one of them.
 The University of West Georgia’s freshmen population contains 97% of in state-
tuition students meaning that of the 1,841 freshmen, there is the possibility that
only 3% were required by their respective high schools to take a financial course
to graduate.
 A pole of University of West Georgia student grades freshman to junior found
that 61.53% were unopposed to the introduction of a required financial and life
skills course, while only 38.46 were opposed.
Alan B. Krueger, Former chairman of the Council of Economic Advisors, argues that
“Economic education is about much more than money, it provides students with a
framework for making good decisions that will help them and the country” (Krueger, qtd.
ECC). With the inability of the federal government to mandate financial and life skill
courses in the state run education system, private institutions such as the University of
West Georgia must take it upon themselves to educate students in basic financial and
analytical skills.
A large number of college graduates remain unprepared for the real world application of
their degrees, requiring those who are hired to receive extra training or face termination.
By using the proven curriculum of other universities, a program can be developed on
campus to ensure the readiness of graduates as they enter the workforce. As a scholar
at our University, I have found many students who feel they lack the skills necessary to
be an established, successful adult.
Many students entering college come straight from high school and are still heavily
dependent on their parents allowing them room to put off learning mandatory adult
skills. Several high schools do not mandate finance or critical thinking courses making
teaching today’s freshmen how to be adults a necessity. The introduction of the
proposed course will establish a basic knowledge of adult skills and promote a firm
foundation for the growth and development of freshmen.

Works Cited
Belkin, Douglas. “Test Finds College Graduates Lack Skills for White-Collar Jobs.”
Education. 16 Jan. 2015. The Wall Street Journal. Web. 18 Mar. 2015.
Bortz, Daniel. “Why Most High Schoolers Don’t Know How to Manage Their Money.”
Money. 8 Oct. 2012. U.S News and World Report. Web. 18 Mar. 2015.
Bradt, Steve. “College adds ‘Life Skills’ to its menu.” FAS Communications. 22 Mar.
2007. Harvard Gazette. Web. 19 Mar. 2015.
“Catalog Year 2016 from 201205 to 201601.” Catalog. The University of West Georgia.
2015. Web 17 Apr. 2015.
Selingo, Jeffrey. “Why are so many college students failing to gain job skills before
graduation?” Gradepoint. 26, Jan. 2015. The Washington Post. Web. 20 Mar.
2015.
“Survey of the States.” Survey of the States and the Progression of Economic
Education. Council for Economic Education. 2015. Web. 18 Apr. 2015.
<http://www.councilforeconed.org/policy-and-advocacy/survey-of-the-
states/#findings>
“University of West Georgia.” Education. U.S News and World Report. Web. 18 Mar.
2015. http://colleges.usnews.rankingsandreviews.com/best-colleges/university-
west-georgia-1601/academics
“University of West Georgia: Your Fit.” Cappex.2015. Web. 17 Apr. 2015
https://www.cappex.com/colleges /University-of- West-Georgia/your-fit

Appendix
Appendix A: Belkin, Council for Aid to Education Chart
These results are presented by the Wall Street Journal who credits the result as
an intriguing expansion upon the declining ability of graduates to compete in
critical and written communication in the business world. The article’s writer goes
on to argue, however, that the over 3,000 students polled did not all come from
the same institution and that the study was done over the course of one year, so
the freshmen and seniors are not the same group, allowing for some disparity in
the results.

Appendix B: Survey, Council for Economic Education
The “Survey of the States” findings catalogue all fifty states and closely
examine those states that do or do not mandate financial and economic courses.
The statistics of the document argue that the number of institutions that support
financial classes is on the decline leading to the necessity of universities to pick
up the slack. The website offers an educational video that highlights the key
points of their survey and includes testimony from high-ranking financial advisors.
 http://www.councilforeconed.org/policy-and-advocacy/survey-of-the-
states/#findings
The website also offers an interactive map that shows that Georgia does
require a economics and finance course to be offered, however, an
examination of the high school graduation requirements course
evaluations under Social Sciences reveals that only economics is required
and the school system has placed financial education inside of it. As a
recent product of the Georgia School System, I can argue (and my survey
supports the idea that) students are not being duly prepared for basic
adult necessities that require financial and critical analytical skills.

Appendix C: Sample Survey
The following is a detailed list of all the questions and data gained from my
survey of 13 University of West Georgia students. The results are classified but
all respondents are asked to identity their class. The questions are presented in a
non-bias fashion and offer input from the taker as to what improvements or skills
they feel high school and the University has failed to teach them thus far.

7 Report Body of Report

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