Georgia legislature passes bill mandating personal finance education in high school

Polarbear

Georgia may become the latest state to mandate a financial literacy course for high school graduation. Both chambers of the state’s legislature have passed a bill mandating all high school students to take at least a half-credit financial literacy course before graduation, starting with the 2024-25 school year. The bill is awaiting the governor’s signature to become law.

Ray Martinez, president, and CoFounder of financial literacy education company EverFi said:

It's incredibly important that we better prepare young adults as they're thinking about the choices that they're making about their college career," he said. "Understanding how to save, how to budget, how to manage your finances is a lifelong skill that can really change the trajectory of your life.

Research shows that students who acquire high-quality personal finance education in high school manage their finances better as adults. Last month, the state of Florida made personal finance education mandatory before graduation. The new bill if signed into law will make Georgia the 12th state in the country to include financial literacy as a mandatory graduation requirement. Currently, 47 states include personal finance in their high school curriculum.

Supporters of the new bill say that it's important for students to learn about personal finance, especially before they take on student loans. In Georgia, student loan debt is among the highest in the nation, averaging about $42,000.

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