Bill > H594

This bill establishes a comprehensive approach to personal financial literacy education in Massachusetts schools by creating a Financial Literacy Trust Fund and mandating financial education for high school students. The bill requires that all high school students take at least one standalone personal financial literacy course before graduation, covering topics such as income, taxes, budgeting, saving, investing, consumer protection, emerging financial technologies, and home ownership. The Financial Literacy Trust Fund, administered by the commissioner of elementary and secondary education, will receive funding from appropriations, gifts, and grants to support the implementation of financial literacy education, including professional development for educators, developing educational resources, and collaborating with higher education institutions. The fund will prioritize underserved communities and economically disadvantaged school districts. The bill also requires the development of detailed personal financial literacy standards and mandates that each public high school provide at least one experiential learning opportunity in financial literacy. Additionally, the bill ensures that funds from private sources will be carefully reviewed to maintain the neutrality and rigor of financial literacy education. The Department of Elementary and Secondary Education is authorized to seek federal, state, or other funding to support the implementation of these requirements.

Education

https://malegislature.gov/Bills/194/H594