S.B. 702 Summary

• Requires the Department of Education to develop and implement a statewide financial literacy curriculum for public school students in grades kindergarten through twelve, beginning with the 2024-2025 school year.

• Mandates financial literacy instruction for grades kindergarten through eight that includes credit costs, credit card management, borrowing for large purchases, mortgages, credit scoring, and other relevant financial topics.

• Requires all students in grades nine through twelve to complete a one-half credit financial literacy course as a graduation requirement, with curriculum aligned to the Voluntary National Content Standards in Economics (second edition) and 2013 Standards for Financial Literacy.

• The high school financial literacy course must include economic principles and personal finance instruction covering credit, borrowing, mortgages, credit reports, postsecondary education planning, and related topics.

• Requires the Board of Education to provide professional development training to teachers before they teach financial literacy courses and to establish a list of approved courses and providers for such training.