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Flipping the Financial Literacy Classroom

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by

Rob LaBreche

on 20 April 2017

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Transcript of Flipping the Financial Literacy Classroom

Flipping the Financial Literacy Classroom
Flipping the Financial Literacy Classroom
What We Will Talk About
What We Will Talk About
What is flipping the classroom
Introduced in academics in late 1990s
Why we care – stats and changing behavior
Who’s using it and success stories
Applicability to financial literacy teaching
Additional uses
How to use starting today
What is flipping the classroom
Introduced in academics in late 1990s
Why we care – stats and changing behavior
Who’s using it and success stories
Applicability to financial literacy teaching
Additional uses
How to use starting today
What is Flipping the Classroom?
Students gain first exposure to material prior to class
can be simple textbook readings or
can include technology like videos, podcasts

Students use classroom time to use and apply the knowledge through
problem solving
discussion
practical work

Students gain first exposure to material prior to class
can be simple textbook readings or
can include technology like videos, podcasts

Students use classroom time to use and apply the knowledge through
problem solving
discussion
practical work

Introduced in academics late 1990s
Has been used in some disciplines for years, notably humanities

Sometimes referred to as “inverted classroom” *observed that the traditional lecture format
incompatible with some learning styles

Modified version referred to as peer instruction

Flipping the Financial Literacy Classroom
Paula Craw, ECMC
Brenda McCafferty-ECMC

What is Flipping the Classroom?
Introduced in academics late 1990s
Has been used in some disciplines for years, notably humanities

Sometimes referred to as “inverted classroom” *observed that the traditional lecture format
incompatible with some learning styles

Modified version referred to as peer instruction

*Lage, Platt, Treglia –
Inverting the classroom: A gateway to creating an inclusive learning
environmentfrom The Journal of Economic Education, 2000

Flipping the Classroom Explained
Why We Care
Student loan borrowing exceeds $1 trillion

91% of undergraduates have at least one credit card

The average number of cards has grown to 4.6, with half of college students having four or more cards

Average undergrad carried $3,173 in credit card debt, the highest since the study began.

Average senior graduated with $4,100 in credit card debt, up 41% from the same study conducted 4 years prior 
Source: Sallie Mae, "How Undergraduate Students Use Credit Cards: Sallie Mae's National Study of Usage Rates and Trends 2009"

Why We Care
92% of undergraduates use credit cards to pay for educational expenses and 30% admitted to using their credit cards to pay for college tuition*

One 23-year-old user on a college message board writes, “If I had just waited a year, I would have heard all the advice and warnings, and been a wiser spender.”*

“Credit cards have definitely made my life harder,” one frustrated card user writes on CollegeClub.com, an online community of college students.

“Credit is a blessing and a curse,” responds another.*

Continued need for financial education that changes behavior

Financial education should be innovative, memorable, relevant and repetitive in order to stick
Source: Sallie Mae, "How Undergraduate Students Use Credit Cards: Sallie Mae's National Study of Usage Rates and Trends 2009", Collegclub.com

Spartan College, OK
Pass rate improved from 83.9% to 96%


Villanova University, PA
Bottom ½ of students’ scores 10% higher in engineering courses from traditional method vs. flipped

Results of Flipping
Results of Flipping
Clintondale High School, MI
In 2010, school took a freshman at-risk social studies class to test flipped method – every student passed
Traditional lecture model class – pass rate was unchanged
In fall 2010, implemented flipped in all freshman classes; then all grades 2011-12
Test scores, grad rates, college attendance, student engagement, discipline problems have all improved


Aaron Sams flipped classroom pioneer
Mike Garver’s Marketing Research Class at Central Michigan University

“I think of it in terms of baseball. I can’t tell my players how to hit a ball and then expect them to perform at a high level during a game. They need to do the work themselves to fully understand what they’re doing and how to do it.”
High ED Case Study
High ED Case Study
-Mike Garver, CMU Professor
Next we’ll do a real life scenario of how it can work in the financial literacy classroom
Applicability to Financial Literacy
Applicability to Financial Literacy
Let's Put it Into Practice Now!
These are pre-class assignments:
1) Studentaid.gov video on budgeting:
3) Studentaid.gov video on repayment
Two budgeting case studies
Participants will break into two groups
Each group will complete the assignment
We’ll come back together to review and see who knows how to budget and repay student loans
Two budgeting case studies
Participants will break into two groups
Each group will complete the assignment
We’ll come back together to review and see who knows how to budget and repay student loans
So, Now We're Ready for Class
So, Now We're Ready for Class
Other Ways to Flip the Financial Literacy Classroom
Other Ways to Flip the Financial Literacy Classroom
How about entrance and/or exit counseling?
(Assuming the school can do in-person group sessions)

“Flip” meetings on their head

Send out ppt/other meeting documents well in advance of meeting

Use meeting time to open discussion, make decisions, get work done
Other Uses for Flipping
Other Uses for Flipping
Use existing videos, podcasts - no need to reinvent the wheel

iGrad’s “Your Financial Mastery”
Use existing videos, podcasts - no need to reinvent the wheel

iGrad’s “Your Financial Mastery”
Ways to Use - Starting Today!
Ways to Use - Starting Today!
So, here's the assignment...
Presented by:
http://www.bostonglobe.com/metro/2015/09/19/harvard-medical-school-revamps-curriculum/CAwgolcZZKAMBsQiwBBfEL/story.html
Full transcript