FORT LAUDERDALE, Florida–(BUSINESS WIRE)–May 23, 2023–
The American Fair Credit Council (AFCC) announced today that the debt restructuring industry has donated $75,000 to the Economic Education Council (CEE) to honor Financial Education Month and the work of CEE. This contribution will help the organization in its mission to “equip K-12 students with the tools and knowledge of personal finance and economics so they can make better decisions for themselves, their families and their communities.” This donation is the first of its kind organized by the AFCC, made possible with the help of its member companies, which raised USD 50,000 for Central and Eastern Europe and USD 25,000 directly from the AFCC.
“Today’s youth are tomorrow’s leaders and consumers, and we want to do everything we can to give them the skills they need to make informed financial decisions,” said AFCC Chairman of the Board, Dan Frazer. “AFCC is proud to partner with CEE to expand this important work to more locations across the country, benefiting countless consumers and families.”
“We are thrilled to support the AFCC during Financial Education Month and look forward to building a long-term partnership,” said Nan Morrison, President and CEO of CEE. young people will provide them, their families and communities with financial stability and economic mobility.
Knowledge of finance and economics is a growing problem in the United States. According to the CEE, only half of the US states require an economics degree, and legislation has been proposed in several states to remove the requirements in economics. However, CEE and related entities are making progress – in 2000, only seven states required students to take part in personal finance, but today the number reaches 27.
Consumers who have not benefited from financial education are often vulnerable and likely to fall into debt. As research into financial education programs illustrates, people who receive financial education have better credit scores and fewer outstanding debts.
The AFCC is exploring the potential of expanding this work to ensure that more Americans take advantage of this knowledge to help them avoid debt later in life and live financially stable lives.
About the American Fair Credit Council
The American Fair Credit Council (AFCC) is the national association of professional debt restructuring firms. The AFCC and its member firms work on behalf of consumers struggling with overwhelming unsecured debt burdens to resolve those debts for less than their full balance. The AFCC has developed a strict Code of Conduct focused on “best practices” to protect consumer rights and requires member companies to adhere to strict regulatory guidelines for operation. All AFCC members operate on a “No Upfront Fee Model” and never charge for services until the consumer’s debt has been successfully negotiated.
About the Economic Education Council
The mission of the Council for Economic Education (CEE) is to equip primary and secondary school students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families and their communities. We work to ensure that K-12 students across the United States will need financial and economic education, connecting them and ultimately strengthening the broader economy. Through a range of programmes, resources and trained educators in Central and Eastern Europe, we impart this essential knowledge to over 4,000,000 primary and secondary school students each year. In partnership with our 200 branches across the country, we provide training and tools to over 40,000 teachers a year, who in turn provide students with top-quality lessons in economics and personal finance. In addition, we deeply engage students through our competitions and career programs, helping them build critical career skills – communication, collaboration, presentation and critical thinking skills.
View the source version at businesswire.com:https://www.businesswire.com/news/home/20230523005930/en/
CONTACT: Denise Dunckel, CEO, AFCC
Denise.Dunckel@americanfaircreditcouncil.org
KEY WORDS: FLORIDA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORDS: FAMILY FINANCE CONSUMER PUBLIC POLICY/GOVERNMENT OTHER EDUCATION PROFESSIONAL SERVICES OTHER PHILANTHROP PHILANTHROPY LEADERSHIP THINKING OBTAINING PRIMARY/SECONDARY EDUCATION FUND WHITE HOUSE/FEDERAL GOVERNMENT COUNTRY/ LOCAL
SOURCE: American Fair Credit Council
Copyright Business Wire 2023.
PUB: 05/23/2023 12:11/DISK: 05/23/2023 12:11
Copyright Business Wire 2023.