TALLAHASSEE, Fla.–Florida is about to become the largest state to make a financial literacy course mandatory for high school graduation.
With bipartisan support, both houses of the Florida legislature have passed a bill requiring financial education. The bill was sponsored by Sen. Travis Hutson and Rep. Demi Busatta Cabrera, both Republicans. It has now gone to Florida Gov. Ron DeSantis for his signature.
"It is critical we set Florida students up for financial success, and this legislation will ensure vital financial literacy resources are available to students before graduation," said Jimmy Patronis, Florida's chief financial officer, in a statement. "Financial literacy is an important key to a strong financial future and learning the basics of credit, budgeting, savings and investing can further prepare students for a successful future."
According to CNBC, when the bill is signed into law, Florida will become the largest state so far to mandate at least one semester of personal finance education, which cited Next Gen Personal Finance. The legislation will require students entering ninth grade in the 2023-2024 school year to take a half-credit course in personal finance or money management before they graduate.
Bills Pending in 26 States
CNBC reported that there are currently 54 personal finance education bills pending in 26 states, according to Next Gen Personal Finance's bill tracker. At least seven states, now possibly including Florida, require students to take a standalone personal finance course to graduate, which the nonprofit considers the gold standard of such education.
More than 20 other states include some sort of personal finance education in their curriculum in different ways, the report added.
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