TALLAHASSEE, Fla. — Legislation requiring high school students to take a financial literacy and money management class to graduate is making its way to Gov. Ron DeSantis' desk for signature or veto.
SB 1054: "Financial Literacy Instruction in Public Schools" passed both the state House and Senate unanimously. The legislation applies to students entering high school in the 2023-2024 school year and thereafter.
Under the bill, the required credits for a standard high school diploma would be revised to require a half-credit in personal financial literacy and money management.
"Many young people in this state graduate from high school without having basic financial literacy or money management skills, and the Legislature finds that, in light of economic challenges nationwide, sound financial management skills are vitally important to all Floridians, particularly high school students," the bill reads.
The class will teach students the following, among other topics:
- Types of bank accounts offered.
- Opening and managing a bank account.
- Basic principles of money management.
- Completing a loan application.
- Local tax assessments.
The hope is for the class to help better prepare students for adulthood.