Perdue focuses on education
By ANGELINA DICKSON, Staff writerWest Virginia State Treasurer John Perdue visited Weirton Wednesday to meet with members of the community, learn about local needs and talk about education.
Perdue stated that the Treasurer's office manages approximately $13.4 billion annually. He stated there are several programs offered through the state that can be helpful to residents everywhere. He said the Board of Treasury Investments offers state agencies and local governments the ability to invest funds whose objective would be to create and maintain sufficient liquidity to meet the needs of the participants while striving to earn a small return above inflation.
"The risk is low and managed through numerous maturity restrictions, diversification, guidelines and credit limits," said Perdue.
A program Perdue also talked about was the Smart529 West Virginia Direct program.
"This program is wonderful," he said. "It allows you to have a tax credit, dollar for dollar, to go to school anywhere in the world, including online schools."
Perdue said working in conjunction with the Promise Scholarship and other funds for school, this program can allow parents and students to save money while investing in their futures. He said that while the Promise scholarship is a big help, he is not happy with the changes constantly being made.
"We used LVL revenue to fund the scholarship, and now because too many students were striving to meet that goal, we've raised the standards continuously," he said. "I know people don't agree with me but I think capping it and saying that this is all you are going to get no matter if tuition goes up or other expenses occur is not the right message to send to students."
Perdue stated that when the Promise Scholarship began, it was to encourage students to find a way to go to college. He said by offering to pay the tuition, the state hoped it would keep students in the state but also give them an opportunity to pursue an education if they had no other means. He said a college education changed his life, his wife's life and it will change the lives of people everywhere.
Perdue went on to discuss the 457 Supplemental Retirement program. He stated that there have been too many programs in the past that have been put on the books and not funded, leaving a mountain of debt. He said West Virginia was one of the few states that had a surplus during the fiscal meltdown of the nation and were able to pay back some of the money owed without throwing themselves far into debt.
"I want to see fiscal education in our school systems from the youngest age possible because if kids learn when they are young how to save money and be financially stable, they will continue to do it," he said. "All this nation knows how to do is spend because we weren't taught savings and the importance of knowing how to invest."
Perdue said it all comes back down to education. He stated that if education doesn't change, society will not change and be left behind in the world economy. He also stressed the importance of year-round schools and multiple language skills.
"We have people coming from all over the world who can speak perfect English and are getting jobs because they are bilingual and can be out there in the world economy," he said. "They have schools that are year-round and they are educating their children in such ways that they are innovating the future."
Perdue said he wants West Virginia to be at the top of the nation's list and said educating the children is the key to that success.
(Dickson can be contacted at adickson@weirtondailytimes.com)
