Four Collinsville High School students are the team that scored highest in the Illinois southern region and will advance to state competition in the Personal Finance Challenge at the Chicago Federal Reserve on April 26, 2016.
This year, a total of 125 teams from Illinois schools took the online exam which covered such topics as Earning Income & Protecting and Insuring, Using Credit & Buying Goods and Services, and Saving & Financial Investing. The top scoring team from each of 5 Illinois regions — and the next top 5 high scoring teams in the state — were invited to Chicago for the finals.
CHS business teacher and team adviser, Vicki Fuhrhop said, “I’m thrilled that for the fifth consecutive year Collinsville will advance to the State competition. This is such a fantastic academic opportunity for the students — traveling to Chicago, getting to stay overnight in the business district next to the Board of Trade, competing at the Federal Reserve Bank against their peers from around the State, and listening to professional speakers from the Chicago Federal Reserve and other organizations.”
Seniors Ben Frey, Katie Loyet and John Collins, along with junior Chloe Parsons, will compete in four rounds of competition, including individual and team questioning and a critical thinking team case study. The two highest scoring teams will advance to a final round. The winning team will represent Illinois at the national competition in Kansas City.
Fuhrhop added, “As a teacher, the most important lesson for all students is that no matter where they plan on going to college, what career field they plan on pursuing, and where they plan on living and working, personal finance and economic decision making will be a critical component to their success. If we don’t teach our students this crucial skill, how do we expect them to possess a knowledge and understanding of financial matters?”
The Illinois Personal Finance Challenge is a program of Econ Illinois receiving support from BMO Harris with in-kind support provided by the Federal Reserve Bank of Chicago.