The Arizona Senate has introduced a bill that would require high school students to take an economics course that would include financial literacy and personal financial management. The bill would amend ARS 15-701.01.
SB-1184 would give the state board the opportunity to consider creating a required personal finance course for Arizona High School students to graduate.
Arizona State Treasurer, Kimberly Yee supports the bill, introduced by Republican state Senator Sylvia Allen.
Yee was among students, teachers, parents who testified in support of the bill in front of the committee during a Tuesday hearing. According to a press release from the Treasurer’s office, Yee said,“It’s important that students are taught the essentials of personal finance, like balancing their checkbooks and understanding credit, before entering the real world. One in eight Millennials have debts in collections. This bill will give students the critical, basic life skills to manage their money and have the financial freedom to accomplish anything after graduation.”
The bill, promoted by Treasurer Yee and sponsored by Education Chairwoman Senator Sylvia Allen, includes financial education and money management as a component of the semester of the economics instruction required for high school graduation. It is the first of many financial literacy initiatives expected to be released from Treasurer Yee’s administration.
The bill will go in front of the full Senate for consideration.