Today we took the seniors to city hall and the federal courthouse. During the visit to city hall, we got to sit in on a council session where the discussion was about paycheck loan companies. The legislation had been proposed to limit interest to 36 percent, apr, and to put a moratorium on the building of any new paycheck loan locations so as to study the situation. The argument being that poor people are being preyed upon by these stores because they do not have other means to get loans and they are being caught in a never-ending cycle.
The members of the industry spoke to the council about how their business helps the poor people so they don’t have bank charges or reconnect charges for utilities. They also talked about how the legislation would hurt them to the point of needing to shut down, putting many people out of good paying jobs.
I sat with my students in the balcony listening to these arguments, and fuming. I know how predatory these places can be; they are located in poor neighborhoods, not in the better parts of town. I know how poor people have not been educated about financial institutions and what they offer. Bank of America had been in my classroom earlier this year to explain their services to my students and many of them knew nothing about what those services could do for them. We talk a lot about credit and how dangerous it can be for young people but it can also be helpful to have for a good credit score.
When they opened up the mic for the public, I ran downstairs and spoke to the council about how important it is to educate our young people about financial literacy. I knew I had to do this for my students. Afterwards I was inundated with people who offered to come speak to my students and to help educate them about financial matters.
And even better, one of our graduates came out of her office after hearing me on the telefeed. My voice is very distinctive and she had immediately thought, “I know that lady.” She had gone through our business classes back in the 90s and wanted me to know that she still uses what she learned with us and how much she appreciates what we taught her. I was delighted.
My students laughed about me charging down to speak. They know me so well and know that I’ll talk at the drop of a hat. ”Didn’t surprise me,” said one of the girls. ”I know how you are.” Yep, they do, and they hopefully will remember how important it is to speak up.
Here are my students in front of city hall:
1 response so far ↓
certainabsurdity // December 3, 2008 at 1:13 am |
That is fantastic! What a great opportunity to see how their education relates to the “real world.” And it’s a total kicker that one of your former students heard you! I’m teaching about exponential functions now and we talk a lot about calculating interest, and compounding interest, etc. I really like teaching this chapter because it is so applicable to their lives.