Results of the KEES Quiz: What Did You Know?

The results are in for our KEES quiz. Thank you to all students who participated. The quiz found that, while students understand some basic information related to KEES, many are mistaken about eligibility requirements. The most noticeable trend in these quiz results was that most students think the requirements of KEES eligibility are much stricter than they really are.

Nearly 85% of students incorrectly answered, “What is the minimum ACT score needed to be eligible for KEES?” The minimum score needed on the ACT to be eligible for KEES is 15. However, most students responded that the answer was a score of 18.

Many students (41.4%) incorrectly answered, “What is the minimum required GPA for KEES eligibility?” Students thought they need a 3.0 GPA to receive an award from KEES, but you only need at least a 2.5 GPA to be eligible.

Also, most students (62.7%) did not know that students can continue earning KEES funds throughout college so long as they maintain at least a 2.5 GPA in their college courses. Most students thought they need at least a 3.0 GPA to continue receiving the award.

KEES is a great scholarship source because you do not need to be a straight-A student or a high performing test-taker. Most good students in Kentucky are eligible. KEES can even be helpful to those who do not feel that traditional college is right for them. KEES awards can be used for vocational and technical training after high school as well. To learn more about KEES eligibility, how to maintain funding, and how to use KEES for vocational/technical training, visit the KHEAA Web site.

READERS, what do you think?

The average score on the KEES quiz was 48%. Why do you think the score was so low? What do you think would help improve students’ knowledge of KEES?

Why do you think most students did not know the minimum required GPA for KEES?

Why do you think most students overestimated KEES requirements?

References:

Kentucky Higher Education Assistance Authority. (2013). Kentucky Educational Excellence Scholarship (KEES). Retrieved from https://www.kheaa.com/website/kheaa/kees?main=1.

Families and Money: Start the Coversation

A recent survey about family money discussions found that 84 percent of families discuss finances with their kids. What was interesting was that 54 percent of those conversations were started by a child under age of 18. Clearly young people want to know more about money.

Make an effort to talk with your family about money, and be prepared for the conversation. Think about the money questions that you have had for a while. Do you want to know more about credit cards? Do you want to know how you can buy a car? Are you concerned about saving for college? Write your questions in order of priority so you can make sure that you and your family discuss what is most important to you.

Here are some examples of common questions that teens have. They can help start a conversation at home:

     1. Do we have a family budget?

     2. What do you use a credit card for?

     3. How do you write a check?

     4.  What do I need to do to open a bank account?

     5.  How much is a good starting salary?

READERS, what do you think?

Are you comfortable discussing money matters with your family? Why or why not?

How do you think you can overcome the discomfort you or your parents feel about discussing this important subject?

References:

Charles Schwab & Co. (2011). 2011 Teens & Money Survey Findings. Retrieved from http://www.aboutschwab.com/images/press/teensmoneyfactsheet.pdf.

National Endowment for Financial Education. (2014). NEFE, Jump$tart Stand Up for Financial Literacy Month 2014. Retrieved from http://www.nefe.org/press-room/news/nefe-jump-tart-financial-literacy-month-2014.aspx.

Video Post: Some Advice for Financial Literacy Month

It's Financial Literacy Month! Here a video from the ABC News affiliate in Chicago. It features an interview with a representation from the Better Business Bureau. He offers helpful advice about scams and saving.