Are children under 18 financially literate?

| Reading Time: 2 Min

The latest data from the international student assessment program PISA have once again highlighted worrying holes in the Bulgarian education system. Shockingly, over half of 15-year-old Bulgarian students fall below the critical minimum in math, 60% lack basic financial skills and almost half struggle with science. These results not only lag behind international averages, but also represent a decline compared to previous years.

 

How should we react?

In response to these alarming findings, Education Minister Galin Tsokov announced plans to introduce entry levels for grades 8 and 9 with an emphasis on practical tasks related to the PISA tests. However, many experts doubt that this measure alone will be sufficient to improve students’ ability to apply their knowledge to real-life situations.

Gergana Efremova from the “Together in an Hour” program points out that reforms in education often lack a comprehensive vision, which leads to “piecemeal” changes. She highlights the disparity between PISA scores and national exams, pointing to systemic problems in the education system.

Teachers such as Sofia’s Danail Raykov echo these concerns, highlighting the lack of connection between curricula and the practical skills needed for the 21st century. Raykov emphasizes the importance of critical thinking and the ability to handle tools that current programs ignore.

The planned changes also include the addition of classes on health culture, home economics and general knowledge once a week. In them, students will learn more about bad habits, how to take care of themselves and others, how to be financially wise and much more.

 

Will it be enough?

Critics argue that the Bulgarian education system is holding students back, leading to poor decisions later in life. Dobromir Ivanov, executive director of BESCO, which represents over 500 companies, highlights the detrimental impact on business. It emphasizes the urgent need for fundamental changes in teaching methods and the curriculum to equip students with important practical skills.

Unfortunately, Bulgaria’s education system is once again facing a critical moment. Collaboration between policymakers, educators and parents will be essential to shaping a modern, effective educational framework that enables students to be ready for whatever the future holds – financially, health-wise or socially.

 

 

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