New Louisiana Law Requires Students Must Take Financial Literacy Classes To Graduate
Let's face it, there are some things we wish we had learned in school instead of learning the hard way as young adults. One of the subjects people always say they wish schools taught students more about is how to handle money properly.
I am tired of being last and coming with big ideas late in the game.
Louisiana is currently ranked 50th in the country in financial literacy. In an attempt to increase our state's future generations' knowledge on everything to do with finance a bill was proposed by our state representative Nicholas Muscarello.
This could be a game changer for our citizens
Bill Pushes Courses Into Law
Louisiana is the 22nd state in the United States to require high school students to take finance classes in order to graduate. Rep. Nicholas Muscarello pushed for this bill because he knows that our low-income communities will benefit greatly from the opportunity to learn ways to advance their lives financially.
What To Expect From The New Required Finance Classes:
- Types of bank accounts
- Opening and managing a bank account
- Balancing a checkbook
- Money management-spending, credit, credit scores, managing debt- both retail and credit card debt
- Completing a loan applictaion
- Receiving an inheritace and related implications
- Basic principles of personal insurence policies
- Federal Income Taxes
- Local tax assessments
- Computing interest rates by various mechanisms
- Simple contracts
- Contesting an incorrect billing statement
- Types of saving and investments
- State and federal laws concerning finance
There is so much valuable information to be learned from these classes that will prevent financial illiteracy from being passed down from one generation to the next without an end in sight.
High school students will be required to start taking these finance classes in their junior and senior years.