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Financial literacy bills pass in Texas House and Senate

by Carrie Buchholz | May 15, 2019

HB 1182 by Rep. Vikki Goodwin (D-Austin) and SB 686 by Sen. Carol Alvarado (D-Houston) would require a half-credit financial literacy course for graduation from high school. Currently, financial literacy courses are electives. 

HB 1182 contains a requirement that the course include instruction on student loans, both the consequences of failing to make the required payments and the effect of loan debt on a person’s finances.

SB 686 includes economics in the course, with two-thirds of the instruction time for personal financial literacy and one-third for economics. The course may be offered as a distinct course in personal financial literacy or as part of an existing course that includes instruction in personal financial literacy sufficient to meet requirements of the one-half credit.

The House bill passed on a unanimous vote and was referred to the Senate Education Committee.

The Senate bill passed on a 30–1 vote and was referred to the House Public Education Committee.

Contact Jeff Huffman, Texas Credit Union Association, at 469-385-6488 or jhuffman@txcua.coop for more information.