House bill

Bill would require Florida high school students to take financial literacy classes

An internal bill (HB 1115) composed by Demi Busatta Cabrera it would require Florida high school students to take courses in financial literacy and money management in order to graduate past the PreK-12 Appropriation Committee Wednesday morning, receiving unanimous member support.

If passed, the bill would require financial literacy standards to be implemented for high school students starting in grade 9. The changes are expected to take effect for the 2022-23 school year. Topics covered would include opening and managing a bank account, how to assess the quality of a depository institution’s services, and basic literacy skills regarding interest and loans.

“HB 1115 ensures Florida students receive financial education to prepare them for success after high school, regardless of where they choose to take the next step,” said Bill Cabrera’s author. . “This bill will ensure that students are familiar with banking practices, money management such as spending, credit scores, loans, loan applications, insurance policy basics and policies. local taxes.”

If the bill were enacted, the current number of elective credits required to graduate would decrease. Current requirements require high school students to complete 8 hours of electives. HB 1115 would change the elective requirement to 7.5 credits.

Although the bill received broad support, Rep. Matt Willhite expressed concerns about its complexities.

“I think when we start narrowing our choices and increasing the directions we force our kids to go in, I don’t know if that’s always the right way,” Willhite said. “I support this policy and believe it is the right direction, but my only concern is if there is any area where a half credit course is not a possibility. And if there are schools that don’t offer the right timeframes on this.

State CEO Jimmy Patronis weighed in during the meeting, offering his support.

“Financial literacy is an important key to a strong financial future, and learning the basics of credit, budgeting, saving and investing can better prepare students for a successful future,” Patronis said. “These lessons are also essential for shaping future generations of Americans to appreciate the American capitalist system and to grow our nation’s pool of entrepreneurs. I commend the House PreK-12 Appropriations Subcommittee for taking action today to move this legislation forward and a big thank you to Rep. Busatta Cabrera for preparing students to succeed in and out of the classroom.

HB 1115 has gone through every step of its legislative journey, working its way through the Secondary Education and Career Development Subcommittee and the PreK-12 Credits Subcommittee, moving closer to a vote at the Full room.