Tuesday, April 4, 2023
Many Hoosiers enter the workforce or go to college with little to no financial education. Therefore, their questions regarding bank accounts, loans, credit cards and insurance tend to go unanswered – increasing their risk for poor financial decisions with long-term impacts.
According to the Nation's Report Card on Financial Literacy, Indiana received a "B" grade in 2022 for outlining grades K-6 social studies financial literacy standards, but not requiring a stand-alone high school personal finance course.
Indiana high schools can currently offer financial literacy courses as an elective, meaning some schools do not offer the class and if they do, students are not required to take it.
Starting during the 2023-24 school year, Senate Bill 35 would require public and charter high school students to pass a financial literacy course before graduation – putting them in a better position to succeed post-graduation.
Senate Republicans understand requiring Hoosier students to pass a financial literacy course before graduation would give them the skills to effectively manage their money and, as a result, make strides in building on Indiana's already strong economy and workforce.
For more information about the bill, click here.
