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House of Representatives
Session of 2021 - 2022 Regular Session


Posted: June 15, 2022 02:08 PM
From: Representative Thomas L. Mehaffie, III
To: All House members
Subject: Personal Financial Literacy Class for High School Students
In the near future, I plan to introduce legislation that would require high school students to complete a full-credit course in economics and personal finance prior to graduation.
Proficiency in managing personal finances is critical for individual success, and this coursework will help increase financial literacy amongst today’s students and tomorrow’s adults. This legislation will provide our students with practical and pragmatic information on topics such as:
  • Credit and credit scores;
  • Savings and investments; and
  • College, car, and home loans.
The course will mimic the standards established by the 2nd edition of the Voluntary National Content Standards in Economics and the 2013 National Standards for Financial Literacy (as developed by the Council for Economic Education).
The course of study will include, at a minimum, instruction on the following:
  • The true cost of credit;
  • Choosing and managing a credit card;
  • Borrowing money for a car or other large purchase;
  • Home mortgages;
  • Credit scoring and credit reports; and
  • Planning and paying for postsecondary education.
The knowledge students receive from this course will establish sound money management habits, which will lead to future financial stability and well-being.
Please join me in investing in the future of Pennsylvania by cosponsoring this important piece of legislation.

Introduced as HB2777