Posted Sep 14, 2011 11:00 am CDT
A group of more than a half-dozen lawyers are visiting Northern Kentucky high schools to talk about money management and the importance of good credit scores.
The program is called CARE, for Credit Abuse Resistance Education, Cincinnati.com reports. A bankruptcy judge in Rochester, N.Y., created the program nine years ago, and it now has a presence in all 50 states.
A co-chair of the program, lawyer Shane Sidebottom, says he’d like to see more Kentucky high schools participating. He offers some statistics to show why financial education is important:
• In the 1990s, bankruptcies increased by 96 percent among youths between the ages of 18 and 24.
• 19 percent of all bankruptcies are filed by people under the age of 25.
“We hope that the CARE Program helps high school seniors recognize the importance of living within their means when it comes to using credit,” Sidebottom tells Cincinnati.com.