Missouri gets grant to teach money management

JEFFERSON CITY, Mo. -- The Missouri Department of Higher Education plans to help teach high school students more about managing money.

The agency has received a $10,000 grant from a New York-based group called the Council for Economic Education, which promotes personal finance instruction in elementary and secondary schools.

Missouri officials will use the grant to make more material available for teaching high school students about money management.

The Department of Higher Education said Missouri's default rate on student loans is below the national average and has decreased since the early 1990s. Officials say teaching high school students about managing money will help keep the default rate declining.