A new proposed bill would require high school students in Florida to get important financial lessons in order to graduate.
House Bill 73, filed by State Representatives Heather Fitzenhagen and Elizabeth Fetterhoff, both Republicans, would require students to take a half-credit course in financial literacy and money management in order to graduate.
The bill states:
...many young people in this state graduate from high school without having basic financial literacy or money management skills... in light of economic challenges nationwide, sound financial management skills are vitally important to all Floridians, particularly high school students...
The course would teach some of the following:
- Opening and managing a bank account.
- Balancing a checkbook.
- Basic principles of money management, such as spending, credit, credit scores, and managing debt.
- Completing a loan application.
- Computing federal income taxes.
- Contesting an incorrect billing statement.
- Types of savings and investments.
If passed, Florida would become the sixth state in the nation to require a standalone course in financial literacy in order to graduate.
The measure would go into effect on July 1.
WPTV's Ryan Hughes is working this story, and will have more throughout the day online and on air.