COLUMBIA – February 5, 2009 – The South Carolina Department of Education and the Financial Literacy Board of Trustees are reminding state residents that tax time is a good opportunity to help educate students about making responsible financial decisions throughout their lives.
Money gathered through the financial literacy check-off is used to support financial literacy education in South Carolina classrooms. Look for Line 28 on the long form (SC1040) or Line 13 on the short form (SC1040A) of the South Carolina Department of Revenue Individual Tax Return form, then complete line 14 of Form I-330 and submit.
State Superintendent of Education Jim Rex said that South Carolina’s school financial literacy program depends heavily on public support.
“The current economic crisis, with millions of home foreclosures and personal bankruptcies, really dramatizes how important it is for tomorrow’s adults to understand how the financial world works,” Rex said. “What do interest rates mean? How does a home mortgage work, and what are the different kinds of mortgages? How do you balance a checkbook? Why is it important to plan for your retirement? Kids need to understand all of those things, and more.
“This tax check-off allows South Carolinians to support financial literacy programs in public schools, which in my view is a solid investment in our state’s future.”