Bill > S279

This bill mandates the inclusion of personal financial literacy education in schools across Massachusetts, aiming to equip students with essential money management skills for self-sufficiency and informed decision-making. The Department of Elementary and Secondary Education will develop and implement standards and objectives for financial literacy, covering topics such as loans, interest, credit, housing, saving, investing, banking, taxes, and charitable giving, integrated into existing curricula from pre-kindergarten through 12th grade by the 2016-2017 school year. The department will also provide resources and guidance on professional development for teachers and can seek funding for these initiatives. Additionally, an advisory committee, established by a previous act, will study existing financial literacy programs and their costs, report on best practices, and advise on the development and implementation of these new standards, consulting with professionals from various financial and real estate sectors.