Bill > H345

This bill mandates the development and implementation of personal financial literacy curriculum for students from pre-kindergarten through 12th grade, to be integrated within the existing mathematics curriculum by the department of elementary and secondary education. The curriculum will cover essential topics such as understanding loans, borrowing, interest, credit card debt, online commerce, home buying and renting, saving, investing, retirement planning, banking, check balancing, taxes, and charitable giving. The department will provide resources and guidance to school districts and other educational institutions to help them select materials and implement the curriculum, and will also identify cost-effective professional development opportunities for educators. Additionally, the bill establishes an advisory committee composed of various stakeholders, including educators, state officials, and representatives from financial institutions and educational organizations, to study current financial literacy programs, their costs, and to oversee the development and implementation of the new standards. This committee will meet regularly and submit reports on its findings and recommendations. Furthermore, the department of elementary and secondary education will conduct a study on the feasibility of incorporating personal financial literacy into the Massachusetts Comprehensive Assessment System (MCAS) and the Massachusetts Curriculum Frameworks, reporting its conclusions and recommendations by December 31, 2017.