HOUSTON, May 14, 2014 /PRNewswire/ -- The U.S. needs to overhaul its education system and adopt a national curriculum, with states giving up some control, in order to give every student a chance at success, according to the latest BBVA Compass research.
The research comes at a crucial time, as the achievement goals of former President George W. Bush's ambitious but oft-criticized No Child Left Behind legislation went largely unmet over the course of the past 10 years. That law required states to establish a testing system by which the performance of public school students could be measured, but it refrained from establishing a national curriculum.
"A national curriculum will ensure that all students across the country are getting the same basic knowledge and are measured on the same standards, with the same access to high-quality content," BBVA Compass economists Kim Fraser and Marcial Nava wrote in their report about the challenges of public education. "In order to get the best out of a high-quality national curriculum, society needs to give public education the place it deserves on the list of national priorities."
Education is an important step toward a productive economy and a driver of social mobility, the economists wrote in their wide-ranging report. They detailed the government's past efforts at reforms and recommended future changes that should ensure disadvantaged students can achieve the same success as those who are from wealthier households and attend private schools.
"With a more advanced public education system, there should be a reduced need for private schools, ultimately creating a more level playing field for students across the country," the economists wrote.
To learn more about the economic implications of the education system, please join the bank's economists for a web conference and conference call at 10:30 a.m. Thursday, May 15. To access the online meeting, click here. If asked, enter the meeting number 718 757 038 and password bbva. For the conference call, dial 1-877-768-4036 or 1-972-932-2100 and enter access code 718 757 038. A question-and-answer session will follow the presentation.
Led by BBVA Compass Chief Economist Nathaniel Karp, the bank's seven-member research team analyzes the U.S. economy and Federal Reserve monetary policy. For its analyses, the economists create models and forecasts for growth, inflation, monetary policy and industries. The economic research team also follows a variety of issues that affect the Sunbelt states where BBVA Compass operates.
In addition to Karp, Nava and Fraser, the bank's economic research group includes Jason Frederick, Shushanik Papanyan, Boyd Nash-Stacey and Michael Soni. Follow their work on Twitter @BBVAResearchUSA and @BBVACompassNews.
About BBVA Group
BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, is the largest financial institution in Mexico and has leading franchises in South America and the Sunbelt region of the United States. Its diversified business is geared toward high-growth markets and relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at www.bbva.com.
About BBVA Compass BBVA Compass is a Sunbelt-based financial institution that operates 684 branches, including 352 in Texas, 89 in Alabama, 78 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration and was recently awarded the 2013 Celent Model Bank Award for its new core banking platform. Additional information about BBVA Compass can be found at www.bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com.
Editor's Note: BBVA Compass is a trade name of Compass Bank, Member FDIC.
SOURCE BBVA Compass