Note: Be sure to check out our overview of the national financial literacy and education standards, too!
Like many other states across the country — nearly half of the U.S., as of July 2023! — Louisiana now guarantees public school students that they’ll receive personal finance and financial literacy education as a part of the curriculum. Governor John Bel Edwards signed Louisiana House Bill 103 into law in early June.
In effect, the bill, sponsored by state Representative Nicholas Muscarello, adds financial literacy as a required course for high school students. Naturally, Money Vehicle applauds the effort! S
But what does Louisiana’s law actually require? Here’s the gist of it.
What’s In Louisiana’s Financial Literacy Mandate
Here’s a rough breakdown, taken from the text of the legislation (literally the word of the law!):
“The legislature recognizes that young people must obtain the skills, knowledge, and experience necessary to manage their personal finances and obtain general financial literacy. Education in financial literacy helps prepare students for the workforce and for financial independence by developing a sense of individual responsibility and improving life skills, as well as a thorough understanding of consumer economics.”
It then lists out several areas in which financial literacy education will focus:
- Economics
- Income and taxes
- Money management
- Investment and spending
- Personal savings
Further, classes can cover topics that include, but are not limited to, the following:
- Bank accounts: Types, how to manage them, and sizing up a financial institution
- Balancing a checkbook
- Principles of money management (spending, credit, managing debt, etc.)
- Loans
- Receiving an inheritance
- Principles of insurance policies
- Taxes
- Computing interest rates
- Contracts
- Contesting bills
- Types of savings and investments
- State and federal financial laws
The law applies to students who will graduate during the 2026-2027 school year, and thereafter.
The Money Vehicle Solution
We don’t necessarily want to toot our own horn here at Money Vehicle, but when it comes to states like Louisiana developing and implementing financial literacy curriculums — well, it’s sort of our specialty. The Money Vehicle course is created specifically to conform to states’ individual criteria. That means what students in Louisiana are required to cover by law, the Money Vehicle course will provide. And then some.
For teachers, administrators, or superintendents in Louisiana looking at their options, we simply want to put it out there that Money Vehicle can be a one-stop-shop to help you get your financial literacy courses up and running. We have teacher resources. We have guidebooks and exercises. We have it all!
Even if you’re a parent or a student and want to see what you should expect from a financial literacy course, Money Vehicle can deliver.
Check it out!
Check out the Money Vehicle textbook — you can find it here on Amazon. And if you like what you see, you can get more content sent directly to your inbox! Sign up for the Money Vehicle Movement Newsletter!
And check out our white paper: “Strategies for Increasing Financial Literacy Rates Among High School and College Students”
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