IL SB1661

School districts may partner with local financial institutions beginning in the 2020-2021 school year to offer a financial training program for all grade 12 students, regardless of academic history.

"Financial institution" is defined as banks, savings and loan associations, credit unions, or licensees under the Consumer Installment Loan Act or Sales Finance Agency Act.

The program is limited to one hour per week during a student's final semester before graduation and must be provided at no cost to the school district.

Required curriculum includes properly investing early, managing debt (including student loan debt), and saving for retirement.

Creates a Financial Literacy Fund for state grants to school districts for teacher training, financial literacy competitions, and related educational activities, with funds distributed across all geographic areas of the state.