BILL NUMBER: S4206
SPONSOR: COMRIE
 
TITLE OF BILL:
An act to amend the education law, in relation to courses of study in
consumer awareness and financial education
 
PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this bill is to better prepare and empower future consum-
ers by requiring school districts to provide instruction designed to
promote consumer awareness and financial education.
 
SUMMARY OF PROVISIONS:
This bill would require the Commissioner of Education to develop curric-
ulum for all schools serving pupils in grades 9-12 for a full unit of
instruction in consumer awareness and financial education. Instruction
would cover issues such as: setting financial goals, developing a budg-
et, basic banking services, impact of check cashing, investment tools,
credit, credit scoring and borrowing, loans, interest rates and retire-
ment considerations.
 
JUSTIFICATION:
High school students are at the beginning of their consumer lifecycle
and generally have a small financial footprint. However, they are on the
brink of a number of financial decisions, including but not limited to,
entering the workforce, opening a checking or savings account, borrowing
or budgeting for college or an automobile. Many of our young people have
not been educated on borrowing, credit rates, investments and loans.
Providing our students with financial awareness tools will enable such
students to make more informed financial decisions.
 
PRIOR LEGISLATIVE HISTORY:
2024: S2873 Comrie/ A9701 Seawright
2022 S5854 S.8459/A.8701 of 2017-18 Referred to Education.
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None noted.
 
EFFECTIVE DATE:
One year after being signed into law.