Capital One Financial Corporation (NYSE:COF) and Junior Achievement are bringing Capital One/Junior Achievement Finance Park, an innovative mobile financial education program, to Long Island public middle schools and high schools for the third consecutive year. The program will teach basic money management skills to more than 3,000 local students from April 7 through June 11. The learning lab is conveniently located at 110 Broadhollow Road, Farmingdale, NY 11735 - Route 110, Long Island.
In a recent Capital One Bank survey, more than 75 percent of New Yorkers surveyed reported that they are not at all or only somewhat confident that teens and kids in NY are receiving the information and financial education they need to understand personal finances and how to manage money. More than 88 percent of New Yorkers said they believe kids should start learning about money management skills like budgeting before they start high school.
This unique, award-winning program for middle-school students begins with four weeks of intensive in-classroom financial education lessons developed by Junior Achievement. Students then have the opportunity to put their newly learned money management skills to the test in a high-tech learning lab. This innovative learning environment, called Capital One/Junior Achievement Finance ParkTM, houses a mock city where students can experience the challenges of making real-life financial decisions.
While at Capital One/Junior Achievement Finance ParkTM, the students are assigned fictional jobs, incomes, families and expenses. They are then expected to develop and stick to appropriate budgets. Students are faced with real-life decisions about housing, furnishings, investments, food, entertainment, phone, cable, savings and charitable contributions -- all of the decisions they will ultimately make upon entering adulthood. Nearly 375 Capital One Bank associates will mentor the students along their financial journey at the Park.
"Basic money management skills are crucial building blocks for economic self-sufficiency, yet research shows that many students are unable to effectively manage their finances when they graduate from high school," said Joseph Peri, President of Junior Achievement of New York. "The hands-on financial education provided at Capital One/Junior Achievement Finance ParkTM helps students to understand the short and long-term impact of educational, financial and life-style decisions. It also prepares students to succeed as adults by teaching them some basic, practical money-management skills. We are thrilled to have Capital One/Junior Achievement Finance ParkTM on Long Island."