Florida Financial Literacy Requirement for High Schools
In an effort to better prepare students for the financial realities of adulthood, Florida has enacted new legislation that mandates financial literacy education for high school students. These legislative changes can be complicated, so we’re going to break it down for you:
- What is Senate Bill 1054?
- Explain the bill’s intent
- Outline the practical implications the bill will have for teachers
- Show how Progress Learning has adjusted to the new requirements and can support educators and students in financial literacy.
Senate Bill 1054: Key Details and Timeline
When Was It Passed?
Senate Bill 1054 was signed into law on March 22, 2022, by Governor Ron DeSantis.
When Does It Go Into Effect?
The new requirement will be in place starting with the 2023-2024 school year. This means that incoming freshmen from that year onwards will need to fulfill the financial literacy requirement to graduate.
The Rationale Behind Senate Bill 1054
Financial literacy is a crucial life skill that is often overlooked in traditional education. With increasing student debt, the complexity of credit, and the importance of saving for the future, the Florida legislature recognized a pressing need for students to be equipped with the knowledge to make informed financial decisions. The bill aims to empower students by teaching them essential financial skills such as budgeting, understanding credit, and financial planning.
What Did This Replace and How Does This Change Graduation Requirements?
Previously, financial literacy was included as an optional component within economics courses. With the new bill, financial literacy becomes a standalone requirement, mandating that all high school students complete a half-credit course dedicated solely to financial literacy.
What Does It Actually Require Schools and Teachers to Do?
Schools will need to offer a comprehensive financial literacy course that covers key topics such as:
- Understanding bank accounts and the basics of banking
- Budgeting and money management
- Credit scores and credit reports
- Loans and borrowing
- Investment basics
- Insurance and taxes
- Financial planning for the future
Challenges and Unique Aspects for Teachers
Implementing a new curriculum can present several challenges for educators, including:
- Curriculum Development: Teachers need to develop or adopt new lesson plans and materials that meet the new standards.
- Professional Development: Educators may require additional training to effectively teach financial literacy concepts.
- Resource Allocation: Schools must allocate time and resources within the existing schedule to accommodate the new course requirement.
Supporting Teachers with Progress Learning
At Progress Learning, we understand the challenges that come with implementing new educational standards. That’s why we offer a fully aligned financial literacy subject designed to support Florida’s new requirement. Our resources include:
- Customizable Assessments: Our platform allows educators to create custom assessments that align with Florida’s states standards – including the new financial literacy standards
- Pre-built Assessments: We provide pre-built assessments that mirror the state’s requirements, ensuring that students are well-prepared for both formative and summative assessments.
- Interactive Content: Our engaging, arcade-like games and activities make learning financial concepts fun and effective for students.
- Comprehensive Reporting: Teachers can easily monitor student progress and identify areas where additional support may be needed.
- Professional Development: We offer training sessions to help educators feel confident and prepared to teach financial literacy.
Florida’s new financial literacy requirement marks a significant step towards equipping students with essential life skills. Senate Bill 1054 not only changes the graduation requirements but also places a greater emphasis on practical financial education. Progress Learning is here to support educators in this transition, providing the tools and resources needed to deliver high-quality financial literacy education.
For more information on how our program can help your school meet these new requirements, get a demo of our product or contact us today. Let’s work together to ensure that every student graduates with the financial knowledge they need for a successful future.
