Requires instruction in personal financial management in public elementary and secondary schools. (8/1/18) (EN SEE FISC NOTE LF EX See Note)
Impact
The passage of SB 315 is anticipated to have a significant impact on state educational requirements by establishing personal financial literacy as a core component of the high school curriculum. The State Board of Elementary and Secondary Education (BESE) is tasked with developing rules and regulations to implement this mandate, ensuring that comprehensive financial education reaches all public high school students. As a result, students will be better prepared for real-world financial responsibilities, potentially leading to improved economic decision-making and greater financial independence among graduates.
Summary
Senate Bill 315, introduced by Senator Thompson and Representative Reynolds, aims to enhance the financial literacy of young people in Louisiana by mandating personal financial management instruction in public elementary and secondary schools. This legislation recognizes the importance of equipping students with essential skills related to money management, spending, saving, and understanding income and credit. The bill requires all students entering the ninth grade on or after July 1, 2019, to fulfill this course as a prerequisite for graduation, effectively integrating financial education into the existing curriculum.
Sentiment
The overall sentiment around SB 315 has been positive, with broad support for the enhancement of financial education among youth. Proponents argue that increasing financial literacy is crucial for fostering responsible citizens capable of making informed financial choices. However, any nuanced discussions of implementation challenges or the burden on schools to provide this instruction have elicited varying opinions, although no significant opposition appears to have been noted during voting. The final vote reflected a strong consensus, with 91 in favor and none against the bill.
Contention
While SB 315 has garnered support, certain points of contention may arise regarding the adequacy of resources and training for educators tasked with delivering this new curriculum. Some stakeholders may express concerns about the varying levels of implementation across different schools and districts, particularly those with limited funding. It will be essential for the BESE to address these issues by establishing a clearinghouse for best practices and instructional materials to aid schools in meeting the new mandate effectively.
Relating to the foundation curriculum, the establishment of the instructional materials allotment, and the adoption, review, and purchase of instructional materials and technological equipment for public schools.
Relating to the foundation curriculum, the establishment of the instructional materials allotment, and the adoption, review, and purchase of instructional materials and technological equipment for public schools.
Relating to the instructional materials and technology allotment, open education resource instructional materials, and the State Board of Education long-range technology plan.
Relating to the instructional materials and technology allotment, open education resource instructional materials, and the State Board of Education long-range technology plan.
Relating to the foundation curriculum, the establishment of the instructional materials allotment, and the adoption, review, and purchase of instructional materials and technological equipment for public schools; providing penalties.