Feb. 6, 2002
FOR IMMEDIATE RELEASE
Contact: Lois A. Vitt

ISFS Study Cited in Testimony Before the Senate
Committee on Banking, Housing, and Urban Affairs.

Washington, D. C.

In testimony today before the Senate Committee on Banking, Housing, and Urban Affairs, American Savings Education Council (ASEC) President Don M. Blandin, provided the committee with "the most updated and comprehensive overview of financial literacy education in the U.S.," using excerpts from Personal Finance and the Rush to Competence: Financial Literacy Education in the U.S. The study, conducted by the Institute of Socio-Financial Studies (ISFS), was commissioned by the Fannie Mae Foundation in keeping with its philanthropic endeavors.

ISFS researchers evaluated the effectiveness of financial education programs for adults in these sectors: community organizations, the workplace, faith-based organizations, the military, cooperative extension programs, and community colleges. The research identified the strategies and practices that are the most effective in helping Americans better understand personal money management.

The Executive Summary of the study may be downloaded from www.ISFS.org, The full written statement is available online HERE.

ISFS is conducting new research on health care financial literacy education. "Consumer Health Care Finances and Education: Matters of Values," was published as an Issue Brief in January 2002 by the Employee Benefit Research Institute (See www.EBRI.org). Other ISFS research initiatives will examine the extent and effectiveness of health care financial education within financial literacy education programs for Americans.

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