High School Graduation Requirements in Personal Finance
The enactment of HB 1115 will modify the existing graduation requirements under section 1003.4282 of the Florida Statutes by reducing the number of elective credits required for graduation from eight to seven and one-half. Alongside this reduction, it introduces a formal curriculum focusing on key financial concepts including managing bank accounts, understanding credit, completing loan applications, and calculating taxes, thus providing students with essential knowledge to achieve financial stability and independence.
House Bill 1115, titled the 'Dorothy L. Hukill Financial Literacy Act,' aims to enhance the financial literacy education requirements for high school students in Florida. The bill mandates that all students entering the 9th grade starting in the 2022-2023 school year must complete one-half credit in personal financial literacy and money management as a prerequisite for obtaining their high school diploma. This move is in response to the growing concern that many graduates lack essential financial skills necessary for adulthood.
While the bill has garnered broad support, there are points of contention regarding the implementation of such a required course within existing high school curricula. Some educators and policymakers are concerned about the practicality of integrating comprehensive financial literacy instruction without straining current resources or overshadowing other vital subjects. Furthermore, as Florida becomes one of the few states requiring a stand-alone financial literacy course for graduation, there may be debates surrounding the adequacy of teacher training and the potential impact on school budgets.