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In financial literacy without a textbook could be a better way of -- that young people are getting the financial education they're needed in the schools simply are not providing.
Ever fight is an eLearning solution that combines new media.
With finance the try to teach people a new way basically keep -- financially informed.
About finance interest rates and everything in between joining us now from DC is -- -- co-founder and chairman and CEO.
Tom Davidson's Thomas Brian -- -- thanks for coming on listen.
You know you think about your your own education right high school -- I can't remember anybody just teaching basic.
You know what is it eight PR what how to how to loans work and we look at the housing problem.
While there was definitely fraught on -- -- the lender side it was pretty clear that a lot of people took out loans that they just simply had no.
Of what they were gonna get hit with later -- That's exactly right Brian you know I think any of my teachers would be horrified that I'd be teaching kids any thing.
Com but but really when you think about this this is kind of ten amounted.
To not teaching drivers -- anywhere across the country and then being surprised that there were car wrecks on every street corner.
And to a certain extent we're doing now we're kind of sending out hundreds of thousands of kids every year -- actually no idea.
How any of this stuff works and you know what we found is no one's really gonna do it for you.
Which is why we've you know tried to create something it's very interest thing fund uses a lot of the new media gaming in messaging tools and 3-D aspects.
To really bring this world -- life make an interest saying not so boring we think it's critically important.
And are you finding as you go around to different schools and they attach your product to their curriculum.
There is just an unbelievable.
Basic knowledge regarding finance.
Absolutely absolutely and you know it's interesting because it cuts across every demographic every level of school where in the very very best.
You know a lead private boarding schools.
Were in -- tons of -- -- and poor rural areas across the country where schools have a very very few resources to do this type of thing.
-- -- one -- thread that runs through all of that is that these kids just really don't have even the basic sense of compounding interest how stocks are traded how mortgages work.
And so we're trying to do is really at a level that playing field build a standard that sound matters from San Jose California.
All the way to the coast of Maine.
And that and about forty states now and and we're finding that a pretty neat -- -- -- expanding rapidly and and your growth.
Seems to me is a very clear indicator that school districts and school systems.
Realize that they are woefully short on just big and you talk about stuff that we're learning now last couple years the hard way Tom -- -- ruling people.
-- them and yet you learned nothing in junior -- your highest West Coast or middle school about.
Eight interest on loans mortgages.
Yeah -- you know we're not we're not teaching credit default swaps here.
And and I think one of the things that is -- -- has been a little troubling as we've gone out and and travel across the country has been.
The negative association if you're a kid who has -- -- 1516.
Years old when this whole mess started.
I'm really -- going back to last said before last September -- association of negative you know the negative association with mortgages with credit cards.
I'm with student loans and things you you're finding we've got a whole generation of kids who works really kind of scared to death of their stuff yeah.
And down they've seen their parents lose their -- eighteen people on their street going to foreclosure and so.
Trying to bring a pretty positive spin to this thing and say that listen this stuff isn't.
It's not rocket scientists and science it's actually pretty easy if you do it the right way early on -- -- and how long would a typical curriculum last forever -- you know fifteen year old getting rolling your systems how long does -- take.
Yes so it's ten courses.
-- take about thirty minutes each -- is it about five hours of total course time.
And and we end what's great about it is once you're alive you can do whenever you -- -- at midnight at your house that my niece go through it.
I'm literally throughout the night on a Saturday night once in them where you can did space and over the course of twelve months.
Totally up to -- user to figure it out again and at the end of the day they get certified financial literacy.
Which at the end today we think is gonna mean something that college application process that you're -- process to your -- yeah.
That's pretty today you know -- and we got to go but maybe now some of those freshman walk around college campuses will learn how to say no.
To that free credit card because they get a T shirt and some snack and Alicia had happened so quick sat out -- -- Exactly all right Tom Davidson co-founder chairman -- ever five good work Tom thanks very much thanks so much -- it.
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