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The U.S. deputy assistant treasury secretary will give the keynote speech at the annual Duel in the Desert.

By University Communications
March 6, 2008

Students from 16 colleges and universities, including The University of Arizona, will be in Tucson this weekend to participate in a national competition that stresses financial management.

This is the sixth year for Duel in the Desert, which is sponsored by Take Charge America, a nonprofit financial counseling and debt consolidation service based in Phoenix. More than 200 students from 56 schools participated in eight regional competitions to qualify for the national event.

Dan Iannicola Jr., deputy assistant secretary for financial education at the U.S. Department of Treasury, will give the keynote speech Thursday evening at the Marriott University Park Hotel, 880 E. Second St.

Iannicola's acceptance of the UA's request to speak "reflects the U.S. Treasury Department’s interest in supporting local and national efforts to promote personal financial education, especially among young consumers," said Michael Staten, director of the Take Charge America Institute at the UA.

“It’s an excellent opportunity for students to gain hands-on experience in situations that test their money management skills. By highlighting real-world examples of household financial problems, and asking student teams to design an appropriate plan of action, the Duel case study competitions are a unique way to spread awareness and create a buzz about personal finance,” Staten said.

Teams participate in a complex case study, where they are charged with researching facts and supporting evidence in an effort to develop short-, medium- and long-term solutions for a hypothetical family in extreme financial distress. At stake is more than $11,000 in prize money.

Sponsors, judges and other financial contributors also will attend, including representatives from JP Morgan Chase Bank, Wells Fargo Bank and Visa USA.

“Take Charge America is pleased to partner with the UA to provide a forum that fosters students’ critical thinking and problem-solving capabilities,” said John Fisher, CEO of Take Charge America. “The competition will serve as a way to encourage student leaders to develop skills in personal finance.”

Founded in Phoenix in 1987, Take Charge America’s mission is to educate consumers about personal financial management. TCA offers a variety of services including financial education, credit counseling and debt management. For more information TCA and its programs, call 1-800-823-7396 or visit www.takechargeamerica.org.