Georgia expands personal finance education for all students

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December 9, 2021 – Georgia is making changes to ensure that all students receive more personal finance instruction that they can apply to their daily lives after high school.

The State Board of Education today approved revisions proposed by State School Superintendent Richard Woods to the current high school economics course, which dramatically increase the amount of personal finance instruction each student in the Georgia high school receives.

During the revised course, which is required for all Georgia high school students, students will learn how to manage and balance budgets; understand and build credit; identity theft protection and consumer protection; and understand tax forms, student loan applications and payslips. Students will also receive a foundation in the fundamentals of economic decision-making, microeconomics, macroeconomics, and international economics, with particular emphasis on how they can apply this knowledge to their own personal finances.

“The First Lady and I hear from students and parents all the time about the need for more education in personal finance skills that students can apply to their daily lives after high school,” said Governor Brian P. Kemp. “Sending our future adults into the ‘real world’ better prepared to make good decisions about their finances will benefit them, their parents, and our communities.” This is an essential change of common sense that I fully support.

“I firmly believe that education is about preparing students for life,” said Superintendent Woods. “I have continually heard from parents, students and industry partners that more personal finance education is needed. This revised course will ensure that every Georgia high school student learns essential life skills such as managing a budget, filing taxes, and using credit responsibly, while gaining an understanding and appreciation of market principles. free.

Revisions to the Economics course were made by an Economics Review Board made up of policymakers, teachers in the field, and industry experts in the fields of finance and economics. The review committee, facilitated by the Georgia Council on Economic Education, met and proposed changes to the current course standards that would raise the personal finance standards within the course without affecting the integrity of the course standards. economy. The standards were then posted for a 30-day public comment period, giving all teachers, parents, students and community members the opportunity to provide feedback.

The updated course standards will be implemented in the 2022-2023 school year.