DAVIDSON — Davidson College President Carol Quillen said it’s a privilege to be invited to serve on an advisory council for President Barack Obama.
Obama appointed her and 14 others Feb. 26 to the Advisory Council on Financial Capability for Young Americans, which is aimed to advise the President and treasury secretary on ways to help youth start earlier to strive for financial independence.
“The advisory council is entrusted to trying to improve the financial capability with a focus on young people,” Quillen said. “All Americans should grow up to be prepared for financial independence.”
Among the initiatives are to research and evaluate financial education and offer more opportunities through schools, families, communities and the workplace as well as through the use of technology, according to the US. Department of Treasury website.
To gather that data, the advisory group has people from education, like Quillen, plus members of the government and private sector. John Rogers Jr. of Ariel Investments will chair the Advisory Council on Financial Capability for Young Americans with Vice Chair Jose Cisneros, treasurer of the city and county of San Francisco.
“Obviously, higher education contributes,” Quillen said of what she brings to the board. Students must prepare for college and work to be able to pay for college. More than that, she said to participate in financial independence, “You must have a job, a vision and a plan. We are trying to thoroughly prepare them to think that way and take advantage of educational opportunities.”
The first meeting is slated for March 10.
Obama had previously organized an Advisory Council on Financial Capability in 2010 to help Americans understand financial matters and make informed decisions. The council, led by Rogers, ended after giving its official report at the end of January. Last summer, Obama signed a new executive order establishing the advisory council that has a more specific focus on young Americans.
Quillen has been president of Davidson College since 2011, having previously served as vice president for International and Interdisciplinary Initiatives at Rice University.