Legislation and Policy
Each state has different requirements when it comes to education and personal finance. If you're interested in making a change in your state's financial literacy provisions, the bills below can serve as examples of legislation that has been developed in various areas, whether or not they became law.
Maryland HB 916
Requires the State Dept of Ed to update the State Curriculum for Personal Financial Literacy Education and corresponding financial literacy standards to include content related to student loans and taxes and establish a financial literacy education week....
Adopts the Financial Literacy Act which stipulates that each school district, in consultation with the State Department of Education, shall develop for incorporation into all phases of the curriculum of grades kindergarten through twelve a financial literacy program, among other items.
Relates to courses of study; provides for subjects of instruction and flag code and for economic education and personal financial literacy programs; provides for personal finance instruction and for capstone course in personal finance as graduation requirement...
Creates the Financial Literacy Task Force to study and identify best practices for increasing the financial capacity of young adults in Illinois and develop recommendations for increasing the availability, uptake, and positive outcomes of financial education in this state's postsecondary academic institutions.
Establishes financial literacy as a requirement for a high school diploma. Directs the Department of Education to establish academic content standards and a statewide assessment system for financial literacy. Requires school districts and public charter schools to offer students instruction in financial literacy.
Adds to objectives developed and approved by the Board of Education for economics education and financial literacy at the middle and high school levels the implications of various employment arrangements with regard to benefits, protections, and long-term financial sustainability.
The bill directs the state board of education to review standards relating to the knowledge and skills that a student should acquire to ensure that the financial literacy standards for 9th through 12th grade include an understanding of the costs associated with obtaining a postsecondary degree...