FL Bill Would Make Financial Literacy A Requirement To Graduate

FLORIDA ? Some Florida lawmakers want to require high school students to take a financial literacy course in order to graduate.

Last Wednesday, the House PreK-12 Appropriations Subcommittee unanimously approved the bipartisan bill, HB 1115, that would revise the current required credits for a standard high school diploma to include one-half credit of instruction in personal financial literacy and money management.

The course would be mandatory for students entering high school during the 2022-2023 school year and beyond.

"Many young people in this state graduate from high school without having basic financial literacy or money management skills and the legislature finds that in light of economic challenges nationwide, sound financial management skills are vitally important to all Floridians, particularly high school students," a portion of HB 1115 reads.

The bill also reduces the current number of elective credits required to earn a standard high school diploma from eight to seven and one-half for students entering the ninth grade in the 2022-2023 school year and thereafter.

The bill maintains the total number of credits at 24, which students must successfully complete to earn a standard high school diploma.

Some of the topics students would be required to learn include: balancing a checkbook, completing a loan application, computing federal income taxes, contesting an incorrect billing statement, managing debt, understanding credit scores and more.

If the bill becomes law, Florida would become the sixth state in the nation to require a stand-alone course in personal financial literacy as a prerequisite for high school graduation and a standard high school diploma.

The bill now heads over to the Education & Employment Committee for a vote. If approved, it will go to the House floor for consideration.

To read the bill in its entirety, click here.