Vote Smart's Synopsis:

Vote to pass a bill that requires high school students pass a half-credit financial literacy class before graduation.

Highlights:

• Requires high school students complete an individual half credit economics and personal finance course in addition to high school graduation requirements in order to qualify for graduation (Sec. 1).

• Requires the following curriculum be included by teachers when covering the course, including (Sec. 1):

• The true cost of credit;

• Choosing and managing a credit card, including, but not limited to:

• The calculation of annual percentage rate; and

• Compounding interest;

• Borrowing money for an automobile or other large purchase;

• Home mortgages;

• Credit scoring and credit reports;

• Planning and paying for postsecondary education;

• Basic principals of personal insurance policies; and

• Basic principals of how to prepare and file federal, state, and local tax returns.

• Specifies that the department of education shall require school entities make available a course in related professional development for teachers to have the necessary skills and resources to ensure this bill is carried out to its proper intent (Sec. 1).

Full Bill Text