|Posted:||February 16, 2022 09:00 AM|
|From:||Senator Chris Gebhard|
|To:||All Senate members|
|Subject:||Personal Financial Literacy for Highschool Students|
|In the near future, I plan to introduce legislation to require completion of a full-credit economics and personal finance course as a graduation requirement in Pennsylvania.
From daily purchases to long-term financial planning, becoming proficient at money management is a critical skill all Pennsylvanians need for success. This legislation will give the Commonwealth’s children the education they need on pragmatic monetary issues like credit and credit scores, savings and investments, and college, automobile, and home loans.
The content of the course will be in line with the standards established by the second 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. To increase financial literacy, the new high school standard course of study will include, at a minimum, the following:
(1) The true cost of credit.
(2) Choosing and managing a credit card.
(3) Borrowing money for an automobile or other large purchase.
(4) Home mortgages.
(5) Credit scoring and credit reports.
(6) Planning and paying for postsecondary education.
The skills learned in this course will create fundamentally sound money management habits and lead to long-term financial security and success.
Please join me in co-sponsoring this important piece of legislation.
Introduced as SB1243