Minimizing Effects of Foreclosure Crisis Essay examples -- Economics E

Even though I believe that education sess help solve this problem, I do not believe that it only if can prevent our current foreclosure crisis. Other factors, along with education, need to be considered.Our financial mess is not only due to our own ignorance regarding financial matters and personal responsibility, but it has also been elevated by our governments failed policies that take up exacerbated an already fragile market. Politics have played a major role in our failures for a majority of Americans. When government policies ar created to elevate a give wayicular sect of the American population, for example, home ownership, those who were on the bubble for loan approval are susceptible. These individuals who were eventually approved, but thence cannot sustain monthly payments, are doomed for at least a fall if not a total failure. To address the issue of education, I will point to a 2004 great deal conducted by The National Council on Economic upbringing. The su rvey points out that since 2004 there are only 7 states that mandate their students take a course on basic pecuniary resource as a requirement for their high school graduation. Comparing the results of the survey to the individual states ranking in the category of home foreclosures, we see that this figure of education has a dismal effect. According to the NCEEs survey, thirty-eight states sort out school standards that indicate they want money issues and financial themes to be taught however, more states do not enforce the standards and have not made them a part of their curriculum. By looking at the survey, we see that the following states have implemented a basic finance class as part of their required curriculum since 2004 Alabama, Georgia, Idaho, Illinois, Kentucky, New Y... ...ollment surpassing that of our higher education system. A Responsible Citizenship curriculum will do no good unless the principles of that education are embraced and applied to our daily lives. If applied, people may be equal to avoid or minimize a future foreclosure crisis and the resulting economic fallout. flora CitedFulmer, Melinda. States Ranked by Foreclosure Rates. MSN Real Estate. Web. 21 Oct. 2010. . Public School Spending. Epodunk The situation of Place. June 2004. Web. 24 Oct. 2010. .Survey of the United States Economic and Personal Finance Education in Our Nations Schools in 2004. National Council on Economic Education, 2004. Web. 30 Nov. 2010. .