Magaziner Applauds Passage of Financial Literacy Bill out of House Education Committee

Treasurer Magaziner released the following statement regarding yesterday's passage of House Bill No. 5491, which was introduced at the request of the Treasurer, out of the House Committee on Education:

'As a former public school teacher, I know that financial education can set young people up for financial success later in life. This bill if passed will ensure every Rhode Island student receives personal finance education prior to graduating high school, which studies have shown leads to better financial outcomes in adulthood, and will provide educators with the resources they need to provide this instruction. I applaud the House Committee on Education for passing this bill out of Committee, with leadership from Deputy Whip Ackerman and Chairman McNamara, and urge the full House to swiftly pass it into law.'

The Treasurer's office collaborated with House Deputy Whip Mia Ackerman, House Education Chair Joseph McNamara, Senate Education Chair Sandra Cano, financial literacy educators, students, and leaders in the non-profit and banking sectors to write H5491. The legislation will ensure all Rhode Island high school students receive personal finance education, and directs the state Department of Education to provide resources to teachers to facilitate personal finance instruction. Rhode Island is currently one of only 14 states that does not guarantee personal finance education to all students. The companion bill was passed unanimously by the state Senate earlier in this legislative session.

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