Teaching the basics of economic literacy-Preparing students for success 

Whereas, the Toronto District School Board has a responsibility to prepare students for success;
 
Whereas,  Canadians who have learned the basics about economic literacy are better prepared for success in the economy;
 
Whereas, the average Canadian household debt in 2004 through personal loans, lines of credit and mortgage debt was $69,450.00
 
Whereas, the estimated household debt (mortgage and credit debt) owed by Canadians in 2003 was $731 billion
 
Whereas, the average Canadian student debt, among those who borrow and graduate from four-year programs, is $22,700
 
Whereas, the percentage increase in Canadian credit card debt between 1997 and 2001 was 90%
 
Whereas, the Toronto District School Board currently only offers courses in grades 11 and 12 which include study of these topics. As do two of the 11 and 12 College courses. Not all students take these courses.

In the elementary curriculum, the concept of interest is covered but not in the context of credit card and debt.
 
Therefore, be it resolved that:
 
The Board engage the Ministry of Education to create and implement mandatory courses beginning in Grade 4 and delivered through secondary school, which teach students basic economic literacy.

These courses include, but are not limited to, how to responsibly manage credit cards, creating a personal budget, learning about credit ratings and the stock market.

Josh Matlow
Trustee for St. Paul’s
Toronto District School Board
www.joshmatlow.ca