By Bob Katzen
Bill:(H 578) – Would require the Department of Elementary and Secondary Education to develop and assist in the implementation of curriculum on personal financial literacy to equip students with the knowledge and skills they need to become self-supporting and to enable them to make critical decisions regarding personal finances. The components of the curriculum would include the understanding of loans, borrowing money, interest, credit card debt and online commerce; rights and responsibilities of renting or buying a home; saving, investing and planning for retirement; banking and financial services; balancing a checkbook; state and federal taxes; and charitable giving.
Supporters say that schools should teach these practical skills in school because by the time students graduate high school, they do not have this practical knowledge that they will use for the rest of their lives.
Sponsor Rep. Peter Durant (R-Spencer) did not respond to repeated attempts by Beacon Hill Roll Call asking him to comment on his bill and its defeat.