HB99 proposing financial literacy credits for Maryland students

MARYLAND – House Bill 99 in Maryland aims to set a financial foundation for Maryland high school students.

Speaker Pro Tem Sheree Sample-Hughes says education has changed and young people don’t have the knowledge to be successful with their money. She says basic skills like knowing where to get a money order or knowing which bank account to have are tools everyone should know.

Under the bill, students would be required to take a half-credit financial literacy course developed by the state board of education. “What does it look like for student loans, do you take out a private loan or do you take out one that is secured by the federal government, where interest rates are a little different, I think that having that basic level of understanding can certainly give our young people a strong footing,” she says.

Wicomico County Public Schools Spokesperson Paul Butler says, the district will continue to provide financial literacy in their schools if this gets passed or not:

“Whether this legislation moves forward in the State of Maryland or not, Wicomico County Public Schools will remain committed to financial literacy education.  We provide financial literacy instruction to elementary, middle, and high school students through our strong partnership with Junior Achievement of the Eastern Shore. In addition, our personal financial literacy program aligns with the State Curriculum, addresses Maryland’s Financial Literacy Standards, and allows all students to participate.  Understanding the importance of financial literacy for all students, Wicomico Public Schools continues to make instructional adjustments to better meet the needs of our students in this area – including this upcoming semester as we pilot a new algebra-based financial literacy course in one of our high schools.”

Last year the bill passed in the house, but not in the senate, however, tomorrow the house ways and means committee will hear the bill. If passed it will then be heard on the house floor.

Categories: Check It Out, Education, Local News, Local Politics, Maryland, Money