TALLAHASSEE, Fla. (FOX 35 WOFL) - A proposed Florida bill would create a financial literacy course requirement for high school students in Florida.
The bill, titled to the 'Dorothy L. Hukill Financial Literacy Act,' will add financial literacy to the required credits for a standard high school diploma.
The bill states that "in light of economic challenges nationwide, sound financial management skills are vitally important to all Floridians, particularly high school students," who often "graduate from high school without having any basic financial literacy or money management skills."
They believe that by requiring educational instruction in financial literacy and money management, graduates will be better prepared for adulthood, as they will have the "requisite knowledge to achieve financial stability and independence."
This financial elective will include a discussion on types of bank accounts offered, managing a bank account, balancing a checkbook, spending, credit scores, managing debt, completing a loan application, and more.
If this bill passed, it would take effect on July 1st, 2019. It would also make Florida the sixth state in the nation to require a stand-alone course in personal financial literacy as a prerequisite for high school graduation and a standard diploma.
This story was written in Orlando, Florida.