FAYETTEVILLE, Ark. (AP) — Arkansas students will be unable to graduate from high school without some understanding of financial planning, taxes and household budgeting.
The Northwest Arkansas Democrat-Gazette reports that lawmakers approved the Personal Finance and Job Readiness Act this year. It mandates that students receive instruction on a range of standards related to financial literacy.
The law doesn’t require schools to offer a personal finance course. It instead directs the Arkansas Department of Education to develop personal and family finance standards that can be incorporated into existing courses.
Little Rock Republican Rep. Andy Davis says too many students leave school unaware of financial issues they’re bound to encounter in the real world.
The standards will be presented to the Board of Education for approval next month. The law will take effect with the class of 2021.