STEPPING UP: EDUCATING TEACHERS - BUILDING A RESEARCH-BASED PROFESSIONAL DEVELOPMENT MODEL

STEPPING UP: EDUCATING TEACHERS
    BUILDING A RESEARCH-BASED
 PROFESSIONAL DEVELOPMENT MODEL
           Billy J Hensley, Ph.D.
National Endowment for Financial Education

Historical Background
• School-based financial education decreased post-World War II
• Rapid growth in number of available programs began in 1990s
• Lack of standards, guidelines, and coordination constrained overall
    effectiveness
•   Limited research on personal finance and decision making
•   Little government support or interest
•   Limited shelf space in schools
•   Assessments indicate declining financial knowledge among high
    school students

                                  2

Increased Interest
•   The recession triggered great national interest in financial literacy
•   Significant increase in financial literacy research
•   Strong government interest
•   U.S. Department of the Treasury Office of Financial Education:
    2002
•   Financial Literacy and Education Commission (FLEC; 20 federal
    agencies): 2003
•   President’s Advisory Council on Financial Literacy
     – I (2008-2010) and II (2010-2012)

                                          3

Increased Interest
• Rapid growth in state mandates
     – 46 today vs. 21 in 1998
• Continued growth in number of financial education programs
    available (well over 100 from nonprofit and for-profit sources)
•   School-based programs are growing:
     – 313,000 NEFE High School Financial Planning Program student guides
       were requested in 2000.
     – We sent over 700,000 student guides in 2010.

                                       4

Background
• Way & Holden (2009)
  – Lack of Knowledge and Confidence
• CEE (2011); Gutter, Copur, & Garrison (2010)
  – Increasing state mandates
• Hira (2010); Schuchardt, Hanna, Hira, Lyons,
  Palmer, & Xiao (2009)
  – Deeper examination needed

                          5

Research-Based Need

K-12 Teacher Preparedness Study
Teacher responses . . .
–   students should study financial literacy (89%)
–   do not feel competent to teach financial education (< 20%)
–   feel unqualified to use financial literacy standards (63.8%)
–   willing to get formal financial education training (> 70%)
NEFE-Funded Study; University of Wisconsin-Madison, 2009

                                 6

Research-Based Need

State Mandate Study
Students from states with FL mandates in place were . . .
–   less prone to compulsive buying
–   more likely to accept average financial risk
–   more likely to pay off credit cards each month
–   more likely to save money
NEFE-Funded Study; University of Florida, 2010

                                         7

Response
• Meeting at the U.S. Department of Education held March 2010
• Representatives from:
   – Council for Economic Education (CEE)
   – Federal Deposit Insurance Corporation (FDIC)
   – Family Economics and Financial Education (FEFE) (University of
     Arizona)
   – Jump$tart Coalition
   – Junior Achievement
   – National Endowment for Financial Education (NEFE)
   – U.S. Department of Education
   – U.S. Department of the Treasury
   – White House

                                    8

Response
• Goal
   – Develop a shared teacher training program focused on:
         •   Making it easy for teachers (Interviewed Teachers)
         •   Core financial knowledge
         •   Teacher needs
         •   Inclusive of all quality providers
         •   Alignment with emerging standards/core competencies
         •   Portability
         •   Inclusion of reinforcement/follow-up
         •   Common front door for teachers
• Disseminated through Jump$tart Coalition

                                         9

Response

–   Provide opportunity for educators to build
    financial literacy confidence

–   Establish a model framework for teacher financial
    literacy programs across the country

                           10

Vision
 Create a shared teacher training program through Jump$tart

     Core Financial Knowledge/Skills

    Relevant             Aligned               Measureable

Adaptable   Scalable   Easy        Inclusive   Quality   Common

                              11

The Model

      As a result of this model,

  teachers will increase their own
personal finance knowledge and skill
    to build confidence to teach
 personal finance in the classroom.

                 12

Model Description
• Locally-based Planning Teams
  – Assistance & Guidance from Alliance
  – Nonprofits
  – Educators
  – State agencies
  – Businesses
  – Financial planners
  – University partners

                         13

Model Description
•   Numerous Disciplines
•   Locally Relevant Credential/Credit
•   Timing
•   Various strength of local J$

                         14

Model Description
• Three-hour classes
   1. Examine how economic trends impact personal financial
      situations;
   2. Develop personal finance strategies;
   3. Identify ways to build wealth through saving and investing;
   4. Assess how career planning impacts earning power;
   5. Compare and contrast financial services and products;
   6. Specify strategies to protect from fraud;
   7. Consider options when using credit and managing debt;
   8. Devise plans to minimize financial risk; and
   9. Explore personal finance resources.

                               15

Program Content

Workshop Topics                    Methodology
 Econ 101                          Targeted learning outcomes
 Spending and Planning             Applied learning
 Borrowing                         Relevant and personalized
 Saving and Investing              Prep work / Post work
 Earning Capability                Credible resources
 Financial Services                “Expert” facilitators
 Fraud                             Classroom application
 Insurance/Risk Management         Assessment

                              16

Literature Review
• Effective teacher training can significantly build the
  capacity of teachers (Darling-Hammond, 1995)

• Most of the PD initiatives focus on approaches that seek
  to “update” teachers (how to teach new curricula) (Ball &
  Cohen, 1999; Fullan, 1995).

• Half or one-day workshops, to also deliver the
  information by worksheets, handouts, and lectures (Ball
  & Cohen, 1999; Garet, Porter, Desimone, Birman, & Yoon,
  2001).

                              17

Literature Review
• Quality PD (which ideally takes place over extended
  periods of time) is costly, most school systems and
  professional development organizations opt for one time,
  one day, or one session trainings (Garet, et al., 2001).

• When teachers are positioned as learners, they are
  allowed to reconnect with learning by utilizing their own
  ways of knowing that can lead to meaningful knowledge
  gain (Duckworth, 2001).

                             18

Literature Review
• Professional development is most effective when teachers are
  also seen as learners (Duckworth, 2001; Kegan, 1994; Kegan &
  Lahey, 2001; Raider-Roth, Stieha, & Hensley, 2012).

• Adults work to make meaning of their daily lives (Mezirow,
  1997; Taylor, 2008)

• Using adult learning models that allow for the individual to
  interact with the content (Raider-Roth & Holzer, 2009; Raider-
  Roth, Stieha, & Hensley, 2012) indicate the most promise for
  increasing confidence and prevalence of positive behaviors.

                                19

Participant Materials

•   Learning plans
•   Handouts
•   Resources
•   Pre-work
•   Scenarios
•   Action

                      20

Facilitator Materials

•   Orientation with
    expectations
•   Prescribed outcomes
•   Facilitator guides
•   Customizable presentations
•   Supporting materials

                           21

Planning Toolkit
•   Event planning guide (suggested timeline)
•   Learning expectations/outcomes
•   Materials for 7 topical seminars
•   Presenter orientation guide
•   Assessment template
•   Budget template
•   Collaboration strategies

                          22

Tested
•   5 pilots; over 700 K-12 educators
    •   ILLINOIS (Chicago Public Schools)
    •   COLORADO
    •   VERMONT
    •   ARIZONA
    •   SOUTH CAROLINA

•   Varied formats
    • Three-day, week-long, blended

•   Assessment (pre and post)

                                23

Assessments
• Measuring Impact
  – Attitude & Confidence
     • Pre/Post Assessment
     • Focus Groups
  – Behavior
     • Pre/Post Assessment
     • Focus Groups
  – Credential/Graduate Credit
     • Locally relevant

                             24

Respondent Characteristics
• Just under half (47.8%) have been teaching ten years or
  less
• Most (61.7%) taught high school
• Over half (54.3%) had never had any training in
  personal finance
   – Others had a course in high school (11.3%)
   – Had taken a college course (17.8%)
   – And/or attended a professional development hosted by an
     association or nonprofit organization (24.7%).
      • This sample had a much lower percentage of teachers that had
        taken a college course that included financial education-related
        content than that of the Way & Holden (2009) sample (37%).

                                   25

Respondent Characteristics
• Most of the participants (72.6%) have a
  master’s degree and are female (68.6%)
• Those in attendance taught courses including,
  but not limited to, math (33.1%), social studies
  (60.7%), and/or business (22.8%).

                        26

Findings
• (73%) volunteered to participate in the
  surveys
• Practically all teachers (99.1%) in both 2011
  and 2012 reported that they learned
  something new.
  – This is encouraging considering several teachers
    had previously attended training or taken a class
    (56.4% of those from 2011 and 38.2% of those
    from 2012)
                          27

Findings
• Nearly all (99.1%) of participants indicated
  that they think other teachers would find a
  similar training opportunity helpful
• Had a positive impact on their own personal
  finances (93%) and also on their classroom
  instruction (94.7%).

                        28

Change in Behavior
Participants demonstrated significant gains in mean
pre/post behavior change scores.
•   28 percent  56 percent: Participants who calculated the amount
    of money they would like to have when they retire and are making
    contributions to a retirement account based upon attaining that
    amount.

•   39 percent  71 percent: Participants who took steps to improve
    their credit score.

•   50 percent  72 percent: Participants who had reviewed their
    credit report.

                                 29

Change in Confidence

Those with no previous training in financial education
topics nearly closed the gap in measured confidence
gained compared to those who had participated in some
sort of previous training.
•   38 percent  80 percent: Participants who agreed they
    have the knowledge necessary to effectively teach their students about
    personal finance.
•   61 percent  90 percent: Participants who had integrated financial
    education into their classroom instruction.
     –   A low of 35% were teaching PFL in Colorado prior to the training

     –   A high of 100% were teaching PFL in Vermont 6-months after the training

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Additional Results
• Key Findings: Demographics
  – Female participants showed slightly more
    progress (65.8 to 75.28) than males (68.03 to
    73.24).
  – Grade level taught
     • K-4: 64.20 to 73.00
     • 5-8: 65.19 to 74.33
     • 9-12: 67.49 to 74.76

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Additional Results
• Key Findings: Demographics
  – Those with no previous training in PFL topics
    nearly closed the gap in measured confidence
    gain than those who had taken a previous PD or
    courses
     • No Previous Training: 65.08 to 74.21
     • Previous Training: 68.72 to 75.33
  – Similar findings for measured behavior change
     • No previous Training: 16.33 to 20.28
     • Previous Training: 18.24 to 21.00

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Conclusions & Implications
• If, by way of effective teacher training models,
  personal finance topics are presented in a way
  to increase teacher knowledge for personal
  use, it is demonstrated here that educators
  will become more comfortable with the
  subject area and begin to teach the topics
  more frequently and hopefully effectively.

                        33

Conclusions & Implications
• While this approach is not the single answer to
  address the gaps identified by Way & Holden
  (2009), it is an effective step forward.

• Building a research-based, replicable model of
  teacher professional development has the
  potential to touch individual lives (both teachers
  and students—and even parents) at the state,
  district, community, and school-level.
                          34

Successes

   Collaborative planning
   Enthusiasm for financial literacy
   Educator incentives
   Applied and relevant learning
   Qualified presenters … learn from the experts
   Prepared presenters

                             35

Use the Model

•   Any organization/institution can conduct training
    based on the model

•   Host organization utilizes local experts,
    local funders, partner marketing

•   Host agrees to follow curriculum elements
    of the model and participate in assessment

                             36

Rules of Engagement

 Follow the model.
 Focus on specified learning outcomes.
 Facilitate at least 18 hours of learning.
 Conduct pre- and post-assessments; share results.
 Collaborate with local organizations.
 Host event within 12 months of securing
  permission.
 Credit the J$TTA Model.
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Final Thoughts
• A teacher-participant said it best,
  – “This was one of the best conferences I've ever
    been to. I wish I had learned some of this 20 years
    ago when I was just starting my career.”

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References
•   Ball, D. L., & Cohen, D. K. (1999). Developing practice, developing practitioners: Toward a practice-based theory of
    professional education. In L. Darling-Hammond & G. Sykes (Eds.), Teaching as the learning profession: Handbook of
    policy and practice. San Francisco: Josey-Bass.
•   Baron-Donovan, C., Wiener, R. L., Gross, K., & Block-Lieb, S. (2005). Financial literacy teacher training: A multiple-
    measure evaluation. Journal of Financial Counseling and Planning 16(2), 63-75.
•   Darling-Hammond, L. (1995). Changing conceptions of teaching and teacher development. Teacher Education
    Quarterly, 22(4), 9-26.
•   Davis, G. (2003). Using retrospective pre-post questionnaire to determine program impact. Journal of Extension,
    41(4), 501-517.
•   Duckworth, E. (2001a). Teaching/learning research. In E. Duckworth (Ed.), "Tell me more": Listening to learners
    explain (pp. 181-187). New York: Teachers College Press.
•   Fessler, R. (1995). Dynamics of teacher career stages. In T. R. Guskey & M. A. Huberman (Eds.), Professional
    development in education: New paradigms and practices (pp. 171- 192). New York: Teachers College Press.
•   Fullan, M. (1995). The limits of the potential of professional development. In T. R. Guskey & M. A. Huberman
    (Eds.), Professional development in education: New paradigms and practices (pp. 253-267). New York: Teachers
    College Press.
•   Garet, M. S., Porter, A. C., Desimone, L., Birman, B. F., & Yoon, K. S. (2001). What makes professional development
    effective? Results from a national sample of teachers. American Educational Research Journal, 38(4), 915-945.
•   Guskey, T. R. (2003). What makes professional development effective? Phi Delta Kappan, 84(10), 748.
•   Gutter, M. S., Copur, Z., & Garrison, S. (2010). Financial capabilities of college students from states with varying
    financial education policies. Denver: National Endowment for Financial Education.

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References
•   Hira, T. K. (2010). The NEFE quarter century project: Implications for researchers, educators, and policy makers from
    a quarter century of financial education. Denver: National Endowment for Financial Education.
•   Kegan, R. (1994). In over our heads: The mental demands of modern life. Cambridge, MA: Harvard University Press.
•   Kegan, R., & Lahey, L. (2001). How the way we talk can change the way we work: Seven languages for
    transformation. San Francisco: Jossey-Bass.
•   Mezirow, J. (1997). Transformative learning: Theory to practice. New Directions for Adult and Continuing Education,
    74, 5-12.
•   Rockwell, S. K., & Kohn, H. (1989). Post-then-pre evaluation: Measuring behavior change more accurately. Journal
    of Extension, 27, 19-21.
•   Schuchardt, J., Hanna, S, D., Hira, T. K., Lyons, A. C., Palmer, L., & Xiao, J. J. (2009). Financial literacy and education
    research priorities. Journal of Financial Counseling and Planning (20)1, 84-95.
•   Survey of the states 2011: The state of economic and personal finance education in our nation’s schools (2011).
    New York: Council for Economic Education. Accessed 5/15/2012 at: http://www.councilforeconed.org/news-
    information/survey-of-the-states/
•   Taylor, E. (2008). Transformative learning theory. New Directions for Adult and Continuing Education, (119) 5-15.
•   Raider-Roth, M. B., & Holzer, E. (2009). Learning to be present: How hevruta learning can activate teachers'
    relationships to self, other and text. Journal of Jewish Education, 75(3), 216-239.
•   Raider-Roth, M. B., Stieha, V., & Hensley, B. (2012). Rupture and repair: Episodes of resistance and resilience in
    teachers’ learning. Teaching and Teacher Education, 28(4), 493-502.
•   Way, W. L., & Holden, K. C. (2009). Teachers' background and capacity to teach personal finance: Results of a
    national study. Journal of Financial Counseling and Planning (20)2, 64-78.

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For More Information
www.jumpstart.org/teacher-training-alliance.html

•www.jumpstart.org/teacher-training-alliance.html

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Billy J Hensley, Ph.D.
Director of Education

   bjh@nefe.org

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