On Tuesday, Governor Ron DeSantis signed a new bill making Florida the largest state to mandate a financial literacy course for high school graduation.
The bill, SB 1054, was unanimously passed by both the state House of Representatives and Senate in early March and now -- for everyone who knows the path laid out in the School House Rock song -- becomes a law.
Florida has become the 11th state to make financial literacy a requirement for high school students through a stand-alone class. There are 20 other states with personal finance included in their curriculum in other ways as well.
DeSantis held a press conference on Tuesday following the signing of the legislation where he stressed the importance of the requirement, the Tampa Bay Times reported.
“What the bill is doing with financial literacy is really providing a foundation for students that’s going to be applicable in their lives regardless of what path they take,” DeSantis said. “This will provide a foundation for the students to learn the basics of money management, understanding debt, understanding how to balance a checkbook, understanding the fundamentals of investing.”
Florida’s Chief Financial Officer, Jimmy Patronis, also shared praise of the bill in a statement.
“Financial literacy is an important key to a strong financial future, and I’m proud that learning the basics of credit, budgeting, savings and investing will now be taught throughout Florida’s schools,” Patronis said in a statement, the Times reported.
Students entering the ninth grade during the 2023-24 school year will be the first class of learners who need to complete a half-credit course in personal finance before earning their high school diploma.
Rep. Demi Bussatta Cabera, a sponsor of the bill, shared that students need to learn these basic skills no matter their path post high school, CNBC reported.
“Whether our students choose to go to one of our great colleges or universities, do a trade or apprenticeship program, a career in the arts or the military, every student deserves to be equipped with the education and knowledge to succeed financially in our society,” Cabrera said.
Financial literacy is starting to be a leading topic amongst education reformers, with 26 states currently pending some sort of education bill centered on the topic, Next Gen Finance’s bill tracker reports.
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