Florida May Require Students to Take Financial Literacy Course for Graduation

Lawmakers in Florida are hoping to make it a requirement students know how to manage their money before graduating from high school.

“The House PreK-12 Appropriations Subcommittee on Wednesday unanimously approved a bill (HB 1115) that would add the requirement for students entering high school as of the 2022-2023 school year,” Fox 13 reported Monday.

Florida previously did not have a financial literary course requirement, and students were introduced to the subject during their economics classes, according to a WTSP article from November.

However, the subject was only touched on for a short time.

“That all changed in 2019 when Gov. Ron DeSantis signed a bill into law that separated financial literacy from economics. Instead, the law called for a more in-depth course that would only be offered as an elective,” the outlet said.

Under the recent proposal, it would be required of young people to have seven and a half credits in their elective courses.

“A half-credit course in personal financial literacy and money management would be added as a graduation requirement,” the Fox 13 report continued.

In the text of H.B. 1115 under the heading “Standard High School Diploma; Course and Assessment Requirements,” the document said the course must include things such as bank accounts, managing a bank account, balancing a checkbook, the basics of money management, and computing federal income taxes.

According to bill sponsor Demi Busatta Cabrera (R-Coral Gables), young people deserved “to be equipped with education and information on how to succeed and thrive financially in our society.”

Approximately 55 percent of citizens failed to use a budget to manage their money, a June 2021 survey by the Penny Hoarder found.

“A similar 56% of survey respondents said they didn’t know how much money they spent last month,” the website said.

In regard to the Florida bill, it cannot move to the House floor until it receives the okay from members of the House Education & Employment Committee.