Financial credit counseling; require curriculum to be taught as an elective class that is required for graduation.
Impact
By requiring that financial credit counseling be taught as an elective class necessary for graduation, HB994 seeks to equip students with essential life skills that are often not covered in traditional academic subjects. This initiative is designed to address a significant gap in personal finance education, ultimately aiming to foster a population that is financially informed and capable of managing their personal finances effectively.
Summary
House Bill 994 aims to enhance financial literacy among high school students in Mississippi by mandating the development of a financial credit counseling curriculum. This curriculum will be created by the State Department of Education and is required for implementation across all school districts. The bill emphasizes collaboration with nonprofit credit unions to facilitate community service opportunities and enrich the curriculum with practical financial knowledge essential for students' future success. Subjects covered in the curriculum will include check writing, understanding FICO scores, distinguishing between good and bad credit, and compounding interest.
Contention
While the bill has strong support from advocates for financial education, there may be concerns regarding its implementation and whether school districts have the necessary resources to effectively teach the curriculum. Ensuring that teachers are adequately trained and that the curriculum remains relevant to the needs of students are crucial factors for the bill’s success. Additionally, some stakeholders might argue about the potential cost implications of implementing this required elective across all districts.
Education: graduation requirements; use of alternative education classes to meet graduation requirements; provide for. Amends secs. 1278a, 1278b & 1278c of 1976 PA 451 (MCL 380.1278a et seq.) & adds sec. 1278f.
Relating to public high school graduation, including curriculum and assessment requirements for graduation and funding in support of certain curriculum authorized for graduation.