Rep. Cartwright Introduces Bill to Teach Students About Financial Literacy
WASHINGTON –Representative Matt Cartwright (PA-08) introduced a bill today to prepare the next generation for success, by ensuring American high school students have the best tools to manage their finances.
The Youth Financial Learning Act of 2019 would create competitive grants to help states implement, expand, or sustain school-based financial literacy programs for students, specifically ones focused on personal credit and student loan management. Pennsylvania currently does not have any requirement that students graduate from high school having taken a course on financial literacy.
“The financial decisions that young people make can follow them around for the rest of their lives. For example, there is currently $1.3 trillion of outstanding student load debt nationwide,” said Representative Cartwright. “It is so important that we prepare our students so they can make educated decisions about their money.”
After high school, almost every important life decision an individual makes will be influenced by their ability to manage their finances. Today, only 17 out of the 50 states require high school students to take a course on personal finance, and only 7 require they take a standardized test on personal finance. As we strive to prepare our students for success in the 21st century workplace, ensuring that young people know how to manage their money is essential.