Santabarbara Calls for Passage of New Bill to Require Financial Literacy Education for High School Graduation

Assemblyman Angelo Santabarbara has cosponsored a new bill aimed at enhancing the financial literacy of high school students across the state that addresses a crucial gap in the current educational system. (A2298a)

The primary objective of this legislation is to make financial literacy education a mandatory component of high school curriculum. The bill proposes that students in grades nine through twelve be required to take and pass a financial literacy course as a condition for graduation. The proposed financial literacy course aims to cover a comprehensive range of topics, ensuring that students graduate with a solid understanding of personal finance, including budgeting, savings, investments, and understanding credit.

Assemblyman Santabarbara emphasizes the urgency of addressing the current gap in financial literacy education. Many high school graduates face adulthood without the necessary knowledge to navigate basic financial transactions, leading to long-term consequences. The bill draws attention to alarming statistics, such as the average American carrying $90,460 in debt, underscoring the need for practical financial education.

This bill is a step towards preparing New York's youth with the skills needed to make informed financial decisions,” said Assemblyman Angelo Santabarbara. “Investment in financial education will yield significant dividends in the future financial well-being of generations to come.”