For the 2024–2025 faculty 12 months and later, the legislation requires highschool college students to finish a course for credit score in private finance in grade 10, 11 or 12 taught by a instructor with an agricultural schooling, enterprise, household and client science, social research or math license.
The legislation typically revises present schooling legal guidelines to incorporate a definition for monetary literacy because it applies to administrative guidelines. It consists of economics or private finance as a commencement requirement.
The legislation incorporates monetary literacy inside the economics course, provides a scholar to the monetary literacy job pressure and requires instruction to make sure that college students have the ability to develop a monetary plan.
The legislation provides the completion by college students of 1 credit score of future planning as a requirement for highschool diplomas awarded on or after July 1, 2025. It directs the State Board of Schooling to undertake tutorial content material requirements for future planning, and requires faculty districts and public constitution faculties to supply instruction in future planning.
Two legal guidelines have come into pressure.
One replaces Monetary Literacy Week, the primary full week of April, with Monetary Literacy Month, the complete month of April. It additionally requires the monetary literacy fee to review monetary literacy schooling efforts and report back to the Common Meeting by Dec. 31.
As launched, the second legislation requires not less than one grade degree in every public elementary and center faculty to schedule not less than 5 days every faculty 12 months to spotlight age-appropriate monetary literacy ideas that embody incomes earnings, spending, saving, managing credit score and investing.
Starting with the 2023–2024 faculty 12 months, the legislation requires every highschool scholar to finish a one credit score or one half credit score course in private finance with the intention to graduate.