[ad_1]
Savings Tips: One Rule to Increase Your Savings
This budget rule will help you grow your savings account.
Problem solved, USA TODAY
Arizona public schools may have new graduation requirements, but obstacles remain.
Senate Bill 1058, which would require personal finance for one semester, passed a hesitant Senate Education Committee on a 6-1 vote Wednesday. Committee members expressed unanimous agreement that financial literacy skills are important, but a majority said they would not support the bill as written even if it passed the full Senate. Stated.
Half of all states now require their own financial courses for high school students, up from just six states in 2019, said Sharon Rector, a member of the state Treasurer’s Financial Literacy Task Force. , and the number is said to be increasing. Arizona becomes the 26th state.
What happens if we add the Personal Finance class?
Arizona already requires schools to include financial concepts in economics classes. Current social studies graduation requirements require students to earn half of their credits in economics, which means they receive some level of personal finance instruction. Other elements of finance are scattered throughout the K-12 classroom.
Critics say that’s not enough.
“These are essential skills,” said Sen. Ken Bennett (R-Prescott), the committee’s chairman. “We have to start thinking about how to help our K-12 students prepare for life. This is one of the most important areas that we have generally been working on. … We are not doing as much as we can and should be doing.”
The bill would separate personal finance into a standalone course of at least one semester. Individual school districts and charter schools set their own curricula and decide how to conduct their courses according to state standards. Suggested topics outlined in the bill include investing, credit management, paying for college, budgeting, retirement planning, financing homeownership, types of credit, and more.
The proposed bill would require students entering high school this fall to take a personal finance course in order to graduate in 2028. Students graduating before 2028 will not be affected.
The total number of credit hours required to graduate will not change. Personal finance will account for one-half of his seven elective units at Arizona State.
Committee members suggested looser language controls if schools could meet the requirements within their curriculum. Sen. Christine Marsh (D-Phoenix), the lone dissenting vote, said schools should have more flexibility in choosing whether social studies, math or electives count towards credit. Proposed. She was concerned about having a dedicated choice space taken away, she said.
“In some cases, that’s what keeps kids in school. Some kids need honors choir classes. They need art classes. They need theater classes. We need classes,” Marsh said. “It’s a little disturbing to have something like that randomly taken away.”
Marsh and Sen. Catherine Miranda (D-Phoenix) said they want a clear fiscal impact report on the cost of implementing the requirements before voting “yes” on the Senate floor. Establishing curriculum standards can be expensive and increase the workload of educators.
Committee members noted that implementation would involve other time-consuming and logistical hurdles. The state Board of Education has not yet developed standards for the subject, and schools will have to figure out how to fit this course into their already tight schedules, which could require significant restructuring. .
Mr Marsh also expressed concern about how the changes would affect local schools. Local schools often have fewer staff members and fewer classes to accommodate the changes.
The bill’s sponsor, Sen. J.D. Mesnard (R-Chandler), is also open to modifying the schedule by pushing the implementation date to 2028 or later to give schools more time to plan. He said there is. If not, students could enter high school this fall with required courses that don’t yet exist.
Arizona can look to states that already have financial requirements in place for best practices and curriculum, said Christian Sherrill, director of growth and advocacy for Next Generation Personal Finance.
What are the benefits of personal finance education?
In a Jan. 22 presentation to the Arizona State Board of Education, State Treasurer Kimberly Yee said only 46% of Arizona students have access to personal finance as an elective for at least one semester. Stated. He cited data from Next Gen Personal Finance, an advocacy group that seeks to impose financial requirements on all states, saying only 1% of students are guaranteed to take independent finance classes before graduation. said.
Meanwhile, 57% of Americans won’t be able to cover a $1,000 emergency with their current savings, student loan debt will exceed $1.74 trillion in 2023, and Arizonans spend more than $7,000 on credit cards on average. The company is maintaining its debt, he said.
“I believe there is a direct correlation between the financial health of families within a household and the greater financial health of Arizona,” Yee said.
Teachers who spoke in favor of the bill Wednesday said their students could apply the personal finance skills they learn in the classroom to real-world problems, from filing their own taxes to helping families find alternatives to title loans. He said that he has started applying it to
“I feel like I’m giving these kids a step into the world,” Mesa Public Schools teacher Angela Maris said. “You’re not only helping the kids, especially if their parents don’t have the skills either, but you’re helping their family and friends.”
What is the future of the Personal Finance Requirements Bill?
Mesnard said there are two potential paths to changing graduation requirements.
The state Legislature could vote on the changes, which would prompt the state board of education to adopt requirements and production standards for the subject.
Mesnard said legislative action is preferable because it is often quicker. The bill could be considered on the Senate floor after the Senate Rules Committee determines its constitutionality.
If the bill fails, the State Board of Education could decide to change the requirements.
When the Financial Literacy Task Force reported to the board last month, state board members expressed a mix of support and interest in more solid details.
Board member Jackie Clay said she was “100% behind” the idea, but was concerned about unintended consequences for educators forced to implement new requirements. Ta.
“I understand the “why,” but there needs to be a “how” for educators to feel good about this. We all agree,” Clay said. “But we need a plan, and that plan needs to be presented to stakeholders.”
Return to curriculum: Scottsdale schools to bring back sex education after years of hiatus
Contact the reporter at nicholas.sullivan@gannett.com.
[ad_2]
Source link
