Pa. officials unanimously approve bill to teach personal finance in public schools

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Pennsylvania officials have unanimously passed a new legislation that will allow public school students to apply personal finance credits towards high school graduation requirements.

Senate Bill 723 earned 49 “yea” votes from all the state senators during a regular session on Monday.

Now, the unanimously approved bill will go to Pennsylvania’s House of Representative where it will be reviewed and decided upon. 

“I believe high school courses in personal finance should be encouraged,” Senator Daniel Laughlin, of Erie County, wrote in an official memorandum in May.

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The bill seeks to “help young people acquire the everyday critical knowledge necessary to make wise financial choices as adults,” Sen. Laughin added.

Under the bill, a student who successfully completes a high school course in personal finance will be allowed to apply up to one credit to satisfy social studies, math, business education or family and consumer science requirements for graduation.

If passed, the bill would go in effect for students graduating from a public high school at the end of the 2020-2021 school year and remain in effect for every future school year.

The Associated Press contributed to this report.