Florida House Supports Financial Literacy Requirement For High School Graduation
TALLAHASSEE (CBSMiami/NSF) -- The Florida House is ready to consider a bill (HB 1115) that would require high-school students to take a course in financial literacy as a condition for graduation.
The House Education & Employment Committee unanimously approved the bill Wednesday.
Under the bill, students who enter high school starting in the 2022-2023 academic year would be required to earn 7 ½ credits in elective courses, a decrease from the currently required eight elective credits.
A half-credit course in financial literacy and money management would be added as a requirement for graduation. The course would be required to include instruction on concepts related to the "basic principles of money management," such as spending, credit and credit scores and managing debt.
Lessons on computing federal income taxes, completing loan applications and opening and managing bank accounts also would be required.
Bill sponsor Demi Busatta Cabrera, R-Coral Gables, said the measure would help prepare students for "financial success" after high school regardless of their career paths.
State Chief Financial Officer Jimmy Patronis also endorsed the measure Wednesday.
"A financial literacy curriculum helps our kids in the long run; it promotes our nation's love of capitalism and entrepreneurship. That's important for the health and well-being of our country," Patronis said in a tweet.
A similar bill (SB 1054) was scheduled for consideration Wednesday on the Senate floor but was postponed at the request of sponsor Travis Hutson, R-St. Augustine.
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