Financial literacy is as important as ever. Financial misinformation is now broadcast over social media by unscrupulous would-be wolves of Wall Street who are using new technology to propagate classic “pump and dump” penny stock schemes, says John Pelletier, director of the Center for Financial Literacy at Champlain College.
Teaching students about this financial misinformation is vital, Pelletier says. As is giving students the tools to understand cryptocurrency, NFTs, intense inflation, and student debt, along with more traditional lessons in financial literacy.
