Financial Literacy Legislation Passes Assembly

Posted · Add Comment

Legislation, A-3396 (McKnight), requiring schools to incorporate financial literacy standards into instruction for students in grades K-8 passed out of the state Assembly on Monday.

The state Board of Education would be required to provide curriculum and sample instructional materials to schools covering topics such as budgeting, savings, credit, debt, insurance, investment and other issues related to personal financial responsibility.

NJPSA, in concert with NJSBA and NJASA, worked with the sponsors to address some concerns  with the legislation as initially drafted.  The legislation was approved 58-10-3 by the full Assembly on Monday.  The bill would take effect immediately and first be applicable to the first full school year following enactment.  The bill will now be referred to the Senate.