New Florida financial literacy requirements can help students navigate student debt, expert says

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New Florida financial literacy requirements can help students navigate student debt, expert says
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Some financial experts tie lack of financial literacy to high student loan debt.

Graduating senior Angelina Eidson says she wishes the course was required sooner. Budgeting money and saving for school isn’t easy.“I think that if someone had sat down with me or even had an educator teach a course on it I would’ve been a lot more aware about putting this money in my savings. Which, I did take some, but I have some friends that don’t know how to set up a savings account,” said Angelina Eidson, a senior at Paxon School for Advanced Studies.

McDermott said understanding financial literacy while you’re young is crucial especially if you’re planning to go to college.“They might have this dream of buying a home, starting a family after college and they feel like they have to put that on hold while they work out these student loan payments,” McDermott said.

Now 11 states, including Florida, require students to take a stand-alone personal finance course to graduate. The new requirement also reduces the number of required electives for high school students to 7½ credits, from the currently required eight credits.

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