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Students earn
cash, learn about finances
High school
seniors can earn cash prizes of up to $5,000 in an essay contest
about investing. The contest helps to shine a spotlight on South
Dakota’s new graduation requirements, which include .5 units of
economics or personal finance. The contest is coordinated by the
South Dakota Department of Revenue and Regulation, Division of
Securities.
Under contest
rules, students must write one page on each of the following
five principles: The Value of Diversification, Investment
Products and Risk, Understanding Interest, How to Choose a
Broker and an Investment Advisor, and Discuss Your Financial
Plan to Obtain $1,000,000 or more by age 65.
In addition to
submitting an essay, students must be sponsored by a teacher
from their high school.
Essays will be
judged based on their content as it relates to the five
principles of investing. Upon being judged, each entry will be
placed in one of four levels: A, B, C or D. When all papers are
categorized, state officials will randomly draw two winners from
Level A, with both winners receiving $5,000. Teachers sponsoring
the Level A winners receive $500. Two essays will be randomly
drawn from each of the remaining three levels (B, C and D), with
those students receiving cash prizes of $3,000, $2000 and
$1,000, respectively. Teachers sponsoring the Level B, C and D
winners will receive $300, $200 and $100 respectively. The high
school teacher sponsoring the most senior student essays wins
$500. In addition, there will be a random drawing of all sponsor
teacher names with the winner receiving $500. Chances of winning
are subject to the number of entries received and the number in
each level.
Contest rules
and more information are available on the Department of
Revenue’s Web site at
http://www.state.sd.us/drr2/reg/securities/.
Click on “High School Senior Essay Contest Information.” The
deadline to submit entries is Jan. 16, 2007.
This is the
second year the Division of Securities has coordinated the essay
contest. Last year’s winners came from school districts such as
Britton-Hecla, Brookings, New Underwood, Plankinton, and Sioux
Falls.
The essay
contest is funded by a grant from the Investor Protection Trust,
a nonprofit organization devoted to investor education.
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