ARIZONA NEWS

Ducey signs bill requiring financial literacy for high school graduation

Apr 12, 2019, 5:02 PM | Updated: 5:27 pm

(Pexels)...

(Pexels)

(Pexels)

PHOENIX — Arizona Gov. Doug Ducey signed into law a requirement for high school students to pass a financial literacy class in order to graduate.

The Financial Literacy Bill, SB 1184, which Ducey signed Thursday, requires “at least one-half of a course credit in economics, which shall include financial literacy and personal financial management.”

In February, state Treasurer Kimberly Yee and others testified before the Arizona Senate Education Committee in support of the bill.

Those who spoke in support of the bill included teachers, Girl Scouts and a businesswoman who said she could have benefited from money management skills when she became a single mother.

“High school students are required already to have an economics semester. This now says in your economics class, in that one semester, please teach personal finance so that they’re prepared for the real world when they graduate from high school,” Yee told KTAR News 92.3 FM a day after testifying.

A week later, the bill passed through the Senate on a 12-0-1 vote before passing in the House on April 9 with a vote of 51-7-2.

According to the treasurer, some of the concepts students will learn include balancing a checkbook and understanding the consequences of debt.

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Ducey signs bill requiring financial literacy for high school graduation