Financial literacy legislation sponsored by State Senator Jamie Eldridge was heard by the Joint
Committee on Education earlier today. Senate Bill 204, “An Act Relative to Financial Literacy in Schools,”
would require that personal financial literacy added to school curriculum.
“Today’s youth are bombarded with a multitude of financial options and responsibilities at an increasingly young age,
yet many are ill-equipped to make informed decisions about financial matters," said Eldridge.
"By teaching children the financial education basics in school, we will help them make educated financial decisions in the future,
preventing future bankruptcies, foreclosures, and unmanageable debt.
“This is a result that’s good for society as well as for individuals,” Eldridge added.
“Over the long term, the investment we make in teaching children financial literacy now will help strengthen our economy and prevent future economic crises. “
The bill would require the Department of Elementary and Secondary Education (DESE) to develop standards and objectives for
personal financial literacy for grades K-12 in the mathematics curriculum. The curriculum would include information on loans, borrowing money,
interest, credit card debt, online commerce, rights and responsibilities of renting or buying a home, saving, investing and planning for retirement,
and banking and financial services.
This looks a whole lot better to me.
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