SALEM, Ore.– Oregon’s legislature has passed a credit union-backed bill that adds a requirement for high school students to complete one half-credit of higher education and career path skills and one half- credit of personal financial education in order to receive a high school diploma.
The bill is now on its way to Gov. Tina Kotek’s desk for signature.
The GoWest Credit Union Association noted the bill received strong bipartisan support, passing the Oregon Senate by a vote of 24-1 (with five absent) and passing the Oregon House June 21 on a vote of 42-7 (with one absent).
Oregon Senate President Rob Wagner and Senate Republican leader Tim Knopp introduced the life skills bill.
Priority for 2 Decades
“We are grateful to Sens. Wagner and Knopp for their leadership and dedication to prioritizing this important legislation that will help set high school students up for success,” said Pamela Leavitt, senior vice president of regional grassroots and political programs/legislative affairs for Oregon with GoWest Credit Union Association. “Financial education in our schools has been a priority for Oregon credit unions for almost two decades and now we are able to deliver a tangible solution for high school students.”
Statements of Support
The two sponsors also issued statements of support:
- “Oregon schools must prepare our students to make major financial and career decisions. This bill will help set up young Oregonians for success,” said Senate President and bill co-sponsor Rob Wagner. “Whether students choose to continue their education or start a career, the skills they learn in these classes will help prepare them for the rest of their lives.”
- “Students will benefit by learning credit-building skills, budgeting to pay for what they’re buying, preparing tax returns, and preventing from becoming victims of fraud. This is a great example of how we, the Legislature, can partner to bring positive change to Oregon.”
Bill Began With Study
According to the GoWest Association, the legislation was born out of an Oregon Department of Education study issued in September 2022 that found that financial education “was the most frequently cited subject that respondents across groups said students should have.”
“Oregon’s credit unions convened a process designed to offer practical solutions to be a game-changer for students as they begin to receive financial education and real-world life skills training,” the GoWest Association said. “The options provided by the state’s credit union leaders formed the basis of the bill’s educational components.”
Once implemented, students will earn ½ credit on each of two tracks – one teaching higher education and career skills and the other offering personal financial education, the GoWest Association explained.
The association added that the career path curriculum will help students learn to apply for jobs, prepare resumes, practice job interview skills, apply for admission to higher education or career training programs, seek scholarships or financial aid, and “become self- advocates for their mental, physical, and financial wellness.”
Additional Skills
The personal education curriculum will be designed to help high school students start to build financial wellness, according to the association, which said the skills taught will include building credit worthiness and credit scores, budgeting, spending wisely, making loan payments, understanding the full costs of rent and homeownership, tax preparation, and fraud prevention.
The requirement for high school graduates will apply to diplomas issued on or after January 1, 2027.
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