Florida become the largest state to mandate the financial literacy course, or you can say personal finance education for high school graduation, and all kids in high school will get a chance to enter into personal finance at an early age.
Florida is Now Largest State to Mandate Personal Finance Education in High Schools
On Tuesday, the Florida government. Ron DeSantis Signed the bill SB 1054 into law, and the legislation was passed by both the state House of Representatives and Senate in the early march.
According to CNBC News:
“What the bill is doing with financial literacy is really providing a foundation for students that are going to be applicable in their lives regardless of what path they take,” said DeSantis during a Tuesday press event. “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.”
When will the Personal Finance Education Law apply in Florida?
This new law will apply to the students entering 9th grade in the 2023-2024 school year, and they need to take a half-credit course in personal finance before they graduate.
According to the CNBC, Currently, there are 54 personal finance education bills pending in the 26 states, according to Next Gen Personal Finance’s Bill Tracker. Now, 11 States, including Florida need students to take a stand-alone personal finance course to graduate.