A new financial literacy bill went into effect in early October, but the educators that must work under it are still waiting to see what the specifics are in order to see how the bill will be implemented.
The bill is effective this year, and will force graduating Main high schoolers to complete coursework regarding personal financing. The bill is titled LD 843: An Act To Promote the Financial Literacy of High School Students.
The goal of the bill is, of course, to help budding adults have an opportunity to better understand handling personal financial concepts. Items like avoiding debt and sound financial decisions are of the utmost importance.
The bill currently requires students to become proficient in all areas including: purchasing, credit usage, budgeting, saving and investing, banking, simple contracts, state and federal taxes, personal insurance, and renting or buying a home.
Principal of Marshwood High School, Paul Mehlhorn stated that “Through our social studies courses we have been integrating economic considerations. That’s one of the ways in which we approach all historical situations. We look at the political, the economic and the social impacts of historical events.”
He noted that school’s courses are set up in a way that creates the transition that should be easy enough for most students to handle. The bill was previously allowed for integration into social studies or math courses. However, now the work is being tailored toward its own block of curriculum.
“I’m still waiting for clarity as to what the expectations are from the state,” he said.
Mehlhorn said the idea of increasing financial literacy has been discussed for the past few years.
“We’ve been trying to figure out how to best integrate it versus it just being another add on,” he said. “If we’re going to do it we want to do it well.”
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