Requires public school students to receive instruction in personal financial management (OR SEE FISC NOTE LF EX)
Impact
The enactment of HB 504 is likely to have a significant impact on state education laws regarding curriculum requirements. By integrating personal financial management into public school systems, this bill aims to enhance students' understanding of financial concepts, promoting financial literacy. The goal is to prepare students for future financial independence and responsibility, which can lead to better financial outcomes as they transition into adulthood. Additionally, it is expected to standardize financial education across various districts, creating a more informed student body overall.
Summary
House Bill 504 mandates that all public elementary and secondary school students in Louisiana receive instruction in personal financial management. This requirement is aimed at equipping students with essential skills for managing their finances, such as money management, spending, saving, and understanding credit. The bill specifies that high school students entering the ninth grade on or after July 1, 2019, must undergo this instruction to fulfill graduation requirements. The State Board of Elementary and Secondary Education (BESE) is tasked with developing the necessary guidelines and rules for the implementation of this curriculum, ensuring it is age and grade-appropriate.
Sentiment
The reception of HB 504 appears to be largely positive, as it addresses a critical need in the educational curriculum. Supporters advocate for financial literacy as a foundational skill that will benefit students in their personal and professional lives. However, there may be concerns regarding the adequacy of resources and teacher training necessary to effectively deliver this new curriculum. Critics may question whether this focus on financial education could detract from other essential subjects or impose additional burdens on already strained educational resources.
Contention
One notable point of contention regarding HB 504 relates to the implementation of the financial instruction. Critics may raise concerns about the capacity of local school boards to adequately meet the requirements set forth by the BESE, especially in terms of resource allocation and teacher preparedness. Additionally, there may be debates over the curriculum's content—what specific financial principles and skills should be emphasized, and who decides what is essential for students to learn. Ensuring equitable access to quality financial education across diverse school districts may also pose challenges.
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.