“A lot of kids are not aware of how to put a bank account together, balance a checkbook, or what an expense and revenue sheet is,” Comrie told amNewYork Metro. “These are critical things that need to be taught to all students so they can be aware of the challenges that they will all face as young adults.”
The initiative to bring financial literacy to New York middle and high schools has been discussed in the state legislature since 2009.
“I’m disappointed that the State Department of Education hasn’t been embraced it,” Comrie said. “I expect that it will be embraced by more members [state legislators] this year.”
Peng, who teaches geometry and the math team at Stuyvesant High School, studied finance in college and was inspired to share the knowledge he learned about mortgages and student loans with students. He told amNewYork Metro that he had the idea in his mind, but just needed a push. That push came from a Stuyvesant student, Anisha Singhal, who penned an op-ed in January 2021 in the school newspaper called “Calculus Before Checkbooks?” Peng was convinced.
Singhal, who was finally able to enroll in the personal finance class after being waitlisted in the class’ first year, said her interest in financial literacy grew after she received her first paycheck. She didn’t think twice about the taxes and just assumed “this is why adults are always complaining.” But once she later found out from a family friend about tax refunds, she realized the importance of financial literacy.