British Columbia Securities Commission

British Columbia Securities Commission

February 28, 2008 12:00 ET

British Columbia Securities Commission: Kelowna-Area Grads Give Schools High Marks and Feel Better Prepared for Financial Future

KELOWNA, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2008) - In a survey released today, recent Central Okanagan School District high school graduates rate their preparation for post secondary above the provincial average, rank quality of teaching as their number one high school experience, and are demonstrating signs of improved knowledge in financial life skills.

"This year's survey shows that our teachers and staff are doing a good job of preparing students for life after high school," says Norm Bradley, Director of Instruction, School District No. 23. "It also tells us there is work to do in some areas, particularly in working with the community to give students real-world work experience, and in teaching students how to manage their financial future."

The revamped 2007 Graduate Outcomes Survey, now in its thirteenth year, identified how well Kelowna-area graduates felt their education had prepared them for life, work, post-secondary education and managing their finances. Graduates from 2005 and 2007 participated in the survey that featured 13 new questions aimed at assessing their financial life skills that the British Columbia Securities Commission (BCSC) helped to develop.

The BCSC, which provides a resource for B.C. teachers to teach Planning 10: Finances, saw the annual survey as an opportunity to work with SD No.23 in order to understand if financial life skills education in high school better prepares youth to navigate through the financial realities of adulthood.

"The BCSC is glad to have formed this new partnership that allows us to gauge the impact of Planning 10: Finances," says Patricia Bowles, BCSC Director, Communications and Education. "Although graduates still say they are not satisfied with how high school prepared them to manage their finances, the fact those who received financial life skills education are saying they feel better prepared to manage their finances tells us Planning 10 is having an impact."

2007 Graduate Outcomes Survey Highlights

- During their high school program, most (94 per cent) of the respondents had received information about post secondary institutions. Most (86 per cent) had also received information about the choices of programs.

- Graduates rated their satisfaction with the quality of teaching the highest (81 per cent).

- Graduates say they are generally not satisfied with their high school preparation for managing finances. However, 2007 graduates reported learning more in high school about managing finances than did the 2005 graduates. Planning 10: Finances, taken by 2007 graduates, may account for the increased learning.

- Satisfaction with learning activities in the community remained the lowest rating (45 per cent).

- Of those who reported having written a transitional financial plan, 73 per cent were 2007 graduates and 27 per cent were 2005 graduates, and only 23 per cent of the 2005 graduates had written a financial plan, compared to 47 per cent of the 2007 graduates.

- While almost all graduates said that they were saving money, a higher percentage of 2007 graduates were actually doing so. Most commonly, graduates were saving for school or long-term needs.

The telephone survey of former SD No.23 graduates yielded a sample of 318 graduates from 2005 and 2007. The sample of graduates from the five SD No. 23 high schools is proportionately representative of the graduation population over the two years. The full survey is available at www.sd23.bc.ca or www.InvestRight.org.

School District No. 23 mission: To educate students in a safe, inspirational learning environment where every student develops the knowledge and skills to be a lifelong learner and a healthy productive member of our global society.

The City: Financial Life Skills for Planning 10 is part of a number of investor education programs offered through the BCSC InvestRight program. The BCSC is the independent provincial government agency responsible for regulating trading in securities within the province. If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.

Learn how to avoid investment fraud at the BCSC's investor education website: www.investright.org.

Contact Information

  • British Columbia Securities Commission
    Ken Gracey
    (604) 899-6577 or Toll Free (B.C. & Alberta): 1-800-373-6393
    Website: www.bcsc.bc.ca