State Lawmakers Examine Financial Literacy Requirement For Students

Thursday, September 28th 2006, 2:36 pm
By: News On 6

OKLAHOMA CITY (AP) -- State lawmakers are looking into the possibility of requiring high school students pass a course in personal financial management.

The study comes after reports that Oklahoma had the sixth highest rate of bankruptcy filings in the second quarter of last year and is in the top ten for credit card debt per capita.

State Representative Ann Coody is asking for the study because of what she calls a growing problem of financial illiteracy among young people.

And state Senator Clark Jolley says students are not being prepared for the world in which they will live.

A bill authored by Jolley during the legislative session earlier this year would've required students pass a one-half unit of personal finance beginning in the 2010-2011 school year.

The bill died in committee as educators said they're worried that students are already overloaded with the number of requirements for graduation.