Sub. H. B. No. 383 Summary

• Requires one-half unit of financial literacy instruction in high school curriculum beginning with students entering ninth grade on or after July 1, 2018, satisfiable through social studies or elective credits.

• Mandates the Chancellor of Higher Education prepare an informed student document for each state institution of higher education containing cost data, graduation rates, student debt information, and admissions statistics updated annually.

• Requires the State Board of Education to include information about informed student documents in financial literacy and entrepreneurship standards and model curricula.

• Establishes that financial literacy instruction must include review of informed student documents, personal finance concepts, credit, debt, investments, money management, interest calculations, and exposure to federal financial aid forms like the FAFSA.

• Designates the act as the "Informed Student Document Act."