HARRISBURG, Pa. (WHTM) — The Pennsylvania Senate has passed legislation that would require a personal finance course in Pennsylvania high schools.
The bill would go into effect in 2025 and will give control at the district level.
It will focus on topics like credit scores, savings investments, college, and loans. The bill passed the Senate Education Committee last week. Senator Chris Gebhard (R-Lebanon, Berks, Lancaster) was the one who created the bill.
“I came from a household where we discussed these types of topics, we discussed how to save money, discussed how credit cards work,” Senator Gebhard said. “Most young adults don’t get any of this information and they learn these topics normally by making mistakes and they learn from their mistakes.”
Alex Langan is a personal financial planner who has taught college students.
“This is an essential skill that everyone needs to know, (and) by that point in time, people can already find themself in a hole. At some point in time, you’re going to have to deal with money, you’re going to have to budget, you’re going to have to buy a car, maybe take out a mortgage for a house.” Langan said.
The bill now moves to the State House for consideration