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The National Financial Capability Challenge is an online test for high school students to test their knowledge of personal finance terms and concepts. The test was developed by the President’s Advisory Council  on Financial Literacy. The challenge is open to students in the United States ages 13-19. The test is online now through April 8, 2011. To help students prepare to take the test the NFCC has published an educator toolkit that links out to thirty different lessons and activities designed to help students gain knowledge of personal finance.

The Charles Schwab Foundation is giving out twenty $1,000 scholarships to students in the top ten percent of students taking the test nationwide. Additionally, the Charles Schwab Foundation will give five $1,000 scholarships to students who score in the top ten percent and attend school in low-income areas. The Schwab Foundation will also give matching grants to the schools of the students who receive scholarships. Read more about the scholarships and grants here.

Applications for Education
Whether they’re going into the workforce, into the military, or going to college after high school, financial literacy is something that all students should have. The lessons and activities included in the NFCC educator toolkit could help you make sure that your students have that financial literacy. In addition to the NFCC resources, I highly recommend the Financial Basics series of videos produced by Common Craft.