A new bill that would require students to pass a financial literacy class to graduate high school is headed to Governor Holcomb's desk.
INDIANAPOLIS — With just days left in this session of the legislature, lawmakers say they want children to be more financially ready for adulthood.
The author, State Senator Mike Gaskill, says he wanted to craft legislation like this after seeing a similar bill passed in Florida. However, he wanted to make this one different by giving more flexibility for educators.Money management: While learning about money management students would be required to become educated about spending and saving, types of bank accounts, opening and managing a bank account and assessing the quality of a depository institution services.
The Department of Education will get to decide how long the course needs to be, whether that be a semester or a year course. That’s a decision Senator Gaskill feels should be left up to education professionals."Kids that come out of high school with this in their knowledge bank will be prepared to succeed in their 20's,” Senator Gaskill said. “That’s the most important decade of your life when it comes to having a good financial future.
The State Board of Education can also offer this class to count for more than one graduation requirement, however Gaskill says this class needs to be a requirement to reinforce how important this education is.
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