CO SB132

Amends financial literacy standards to include student loan debt management alongside existing personal finance topics like budgeting and credit.

Requires state academic standards for public schools to include knowledge and skills for financing higher education or career-related postsecondary education, including understanding loan repayment, default consequences, and obligation to repay loans even if student does not complete the program.

Appropriates $5,000,000 from the general fund to the Colorado Commission on Higher Education for the 2015-16 fiscal year to provide merit-based financial aid to students demonstrating significant academic achievement.

Encourages school districts to adopt grade-appropriate financial literacy courses at elementary through high school levels and to select textbooks that include provisions on personal finance topics including higher education financing.

Updates federal reserve economic data references from 1999 to include 2013 study showing student loan debt tripled between 2004 and 2012 and exceeded $1 trillion by 2015.