Sen. Cano’s consumer education for high school students bill passes the Senate
STATE HOUSE – Sen. Sandra Cano’s (D-Dist. 8, Pawtucket) legislation (2021-S 0349) which directs the Council on Elementary and Secondary Education, in consultation with the Rhode Island Department of Education, to develop and approve statewide academic standards for the instruction of consumer education in public high schools passed the Senate tonight.
“How can we expect our children to become financially successful adults if we do not teach them the core aspects of our financial system when they are in school? This bill will ensure that our children leave the public school system with a firm and knowledgeable grasp on basic financial concepts that will help them succeed in their adult lives,” said Senator Cano.
“When we equip Rhode Island students with personal financial skills early on, we set them up for financial success in adulthood,” said General Treasurer Seth Magaziner, whose office requested the introduction of the bill. “I applaud the Rhode Island Senate - with dedicated leadership from Education Committee Chair Cano - for passing this bill into law, which will help ensure every student receives the personal financial instruction they need to make smart financial decisions and access economic opportunity throughout their lives.”
Topics in the instruction may include, but not necessarily be limited to, installment purchasing, budgeting, comparison of prices, credit and the law, employment and income, rights and responsibilities in the marketplace, money management, maintaining credit, saving, investing, protecting and insuring assets, and other personal finance or consumer economic topics of study.
Beginning with the graduating class of 2024, all students shall demonstrate proficiency in consumer education prior to graduating high school.
Cosponsors of the legislation are Senators Thomas J. Paolino (R-Dist. 17, Lincoln, North Providence, North Smithfield); Walter S. Felag, Jr. (D-Dist. 10, Warren, Bristol, Tiverton); Dawn Euer (D-Dist. 13, Newport, Jamestown); Louis P. DiPalma (D-Dist. 12, Middletown, Little Compton, Newport, Tiverton); Hanna M. Gallo (D-Dist. 27, Cranston, West Warwick); Ryan W. Pearson (D-Dist. 19, Cumberland, Lincoln); Joshua Miller (D-Dist. 28, Cranston, Providence); Senate Majority Whip Maryellen Goodwin (D-Dist. 1, Providence); and Senate Majority Leader Michael J. McCaffrey (D-Dist. 29, Warwick).
The bill now heads to the House of Representatives for consideration.
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