Rep. Dallman: Financial Literacy Legislation Written by Rep. Dallman

Madison, Wis. –State Rep. Alex Dallman has introduced a bill, AB 899, that would require a personal financial literacy credit for high school graduation.

Under current law, a school board can only grant a high school diploma to a student if the student meets specific statutory requirements, such as earning a certain number of credits in various high school subjects. . This bill states that in order to graduate, a student must also earn at least one personal financial literacy credit which includes financial mindset, education and employment, saving and investing. , credit and debt, as well as risk management and insurance.

It must be said that the vast majority of parents and students rank personal finance among the most useful high school courses. This bill will meet that demand by ensuring that every child receives a financial literacy course before graduation. Wisconsin currently only requires 15 credits to graduate from high school; a significantly lower number than many states across the country. This bill will add a financial literacy credit to the requirements, ensuring that DPI’s standards for the course are used statewide.

“It’s critical that we prepare our Wisconsin students for financial success as they enter the workforce or enter college. Many disturbing financial trends have occurred over several decades. Students are leaving college with massive debt as the national student loan debt continues to rise to nearly $2 trillion,” Rep. Dallman said.

“Instead of sending our next generation out into the real world with no knowledge of how to save, manage and invest money, we need to demand that this kind of education start in high school,” continued Rep. Dallman.

Assembly Bill 899 passed the Assembly Education Committee this week and is awaiting a vote by the full Assembly.

Sarah J. Greer