Submission to: Review of Australia’s Higher Education System

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West, Tracey
de Zwaan, Laura
Belle Isle, Melissa
Bodle, Kerry
Freudenberg, Brett
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2022
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Abstract

Griffith University has demonstrated expertise in financial literacy, and it is a field of increasing interest to researchers, educators and policymakers. In Australia, the National Financial Literacy Strategy 2014-17 set the first strategic priority as to educate the next generation, particularly through the formal education system. This led to financial literacy education being embedded in the school curriculum. The objectives were to increase the number of teachers trained (core action 1.2) and to increase the engagement and confidence of teachers to teach consumer and financial literacy through the Australian Curriculum (core action 1.4). In addition to teachers, the National Financial Literacy Strategy referenced increasing the number of VET students participating in financial literacy education, and more generally, to extending opportunities to engage students in the post-compulsory years of education. The most recent National Financial Capability Strategy 2022 underscore the importance of supporting young Australians to navigate ‘financial firsts’. Accordingly, we make this submission to the Review of Australia’s Higher Education System to address with regard to key areas for review 1 and 2 in regard to the role of Higher Education to redress gaps in the supply of financial education to its students. It can be argued that universities have a moral obligation to support students in managing their finances, due to the large financial burden placed on them as they engage in tertiary study.

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IN180100052

LP210301176

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© 2022 The Authors. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the publisher’s website for further information.

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Higher education

Australian government and politics

financial literacy

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West, T; de Zwaan, L; Belle Isle, M; Bodle, K; Freudenberg, B, Submission to: Review of Australia’s Higher Education System, 2022, pp. 1-14

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