ST. PAUL — There’s pressure at the Minnesota State Capitol to make taking a personal finance course a requirement for high schoolers. The bill was passed by the Minnesota House Education Policy Committee and is now going to the House floor.
Tim Ranzetta is the co-founder of a non-profit organization called Next Gen Personal Financing. He says the bill states that students starting grade 9 in the fall of 2023 and later must pass a personal finance course in their senior year.
It also lists topics that would be included, such as budgeting, loans, how interest works, home mortgages, tax filing, the impact of student loan debt, and reading a paycheck and a payroll deduction.
Ranzetta says that nationally, one in five students are offered this type of course, and in Minnesota, it’s just one in 16. His nonprofit is on a mission to ensure that d By 2030, every high school student in America will take a full semester personal finance course.
They also developed the curriculum for use by teachers, and if adopted by the Minnesota state legislature, they will provide more than $300,000 in stipends for teachers to pursue professional development.
We have reached over 8,000 teachers nationwide who have invested an average of 20 hours in our professional development because we recognize that the world of professional finance is constantly changing.
Ranzetta says he’s still looking for a sponsor to support the bill in the Minnesota Senate. Representing Hodan Hassan of Minneapolis passed the bill in the House. He says 26 states have introduced more than 50 bills this year.