Many Colorado citizens are living paycheck to paycheck. They may not have access to typical banking, are not saving for college or retirement, have no emergency funds set aside and are dealing with medical and other debt that is overwhelming them. Around half of Americans have no retirement accounts at all. Only about 57% of American families are saving for college. The average class of 2016 college graduate had student loan debt of $37,172. The vast majority of Americans have under $1,000 saved and half of all Americans have nothing at all put away for retirement.
The Financial Education Committee seeks to ensure that all Colorado citizens have access to financial education that will help them to live a financially stable life.
Our committee is working on:
- Developing a financial resource guide which will provide referrals to organizations providing financial education and asset building tools.
- Providing information for consumers about their rights.
- Looking for ways to help people with disabilities to increase their assets by evaluating policies that are impeding them.
- Evaluating the Department of Education’s financial literacy standards for children and teens with a particular emphasis on ensuring that student loans and student debt, as well as retirement savings, are covered. The Department is currently reviewing and revising the standards.
Additional reading on these issues: