New law requires Ky. students to learn financial literacy

Published 6:00 pm Thursday, July 19, 2018

Did you ever wish you were taught how to balance a check book in high school or how to open and manage a banking account? Well, due to a new law recently passed in Kentucky, high school student can learn these and other valuable skills.

One of the new laws that went into effect last week in Kentucky involves a new curriculum that will require all high school students to take and pass a class on financial literacy.The law, House Bill 132, will be implemented for students entering their freshman year beginning in the 2020 — 2021 semester.

While a curriculum for this new class has not been hammered out yet, Middlesboro Superintendent Waylon Allen said, “Until I see the standards, I am not certain what the course will entail. Personally, I hope that students will gain a broader knowledge of budgeting and the impact of debt because many students will begin their credit history soon after graduation. It is important for students to gain the knowledge while in school.

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“Many problems seen in our state government are related to fiscal responsibility. This new regulation allows us to implement change that begins with the students in Kentucky. Enabling our young people to become more financially responsible could produce lasting effects in the commonwealth.”

According to the National Financial Educators Council official website, financial literacy is having the know-how and skill on financial matter and being able to successfully take action that best fulfills your personal goal or the goals of your family and community.