HARTFORD, CT – Governor Ned Lamont on Thursday announced that he has signed into law legislation approved by the Connecticut General Assembly during the recently adjourned session that requires students to complete a half-credit course in personal financial management and financial literacy in order to graduate from Connecticut public high schools. It also adds personal financial management and financial literacy to the state’s required program of instruction for public schools.
The requirement begins with the class of 2027, who start high school this fall. It can count as either a humanities credit or as an elective credit and will not add to students’ existing required credits.
“Personal financial management is one of the most important instructional tools that we can give young people to achieve economic independence and stability throughout their lives, and requiring it to graduate from high school is simply common sense,” Governor Lamont said. “This course will help give every student a better shot at financial success, particularly those who are not fortunate enough to be given the opportunity or the resources to receive this kind of instruction at home. Financial education is as important as math, science, and reading. I am proud to sign this bill into law, and I thank the overwhelming majority of legislators who sent it to my desk.”
The Connecticut State Board of Education will provide curriculum and resources to help local school boards develop the courses, which must include instruction on banking, investing, savings, the handling of personal finance matters, and the impact of using credit cards and debit cards.
“I commend Governor Lamont and the General Assembly for their commitment to ensuring that financial literacy continues to be a focus,” Education Commissioner Charlene M. Russell-Tucker said. “Access to financial literacy instruction provides students with tools for lifelong financial security, ultimately fostering prosperous families, robust communities, and a strong Connecticut.”
Connecticut joins 21 other states that have enacted laws requiring students to take a personal finance course to graduate from high school.
The legislation is Public Act 23-21. It was approved in the Senate by a vote of 35 to 1 and in the House of Representatives by a vote of 138 to 12.