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Iowa receives B+ for adult financial literacy

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#NotToBrag, but, Iowa received a B-plus grade on the 2016 National Report Card on Adult Financial Literacy released by Champlain College in Vermont. The grade placed it among just four states receiving a B-plus grade. No state received an A or A-plus grade; four got an A-minus. States also receiving a B-plus were New Hampshire, South Dakota and Wyoming. The overall report shows the nation has dramatic room for improvement in financial literacy, said John Pelletier, director of Champlain College’s Center for Financial Literacy. More than three-quarters of U.S. adults live in states with poor financial literacy, and states like Iowa are merely the best among a group of low-performing states. “While adults in Iowa perform well in important areas like credit card use and saving and spending, they can improve in other areas, like households having a budget, being offered and participating in financial education and use of student loans,” he said. To arrive at relative grades for each state, 59 data points were drawn from 18 national organizations.

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