INDIANA – Senate Bill 35 would require all students beginning with the class of 2028 to take a personal financial responsibility course before they’re allowed to graduate. That course would cover topics like opening and managing a bank account, managing debt, applying for loans and understanding credit scores.
The final version of the bill received a unanimous vote in both the house and the senate on Tuesday. Govenor Eric Holcomb will have seven days to act on the bill once it is formally presented to him.
Senator Shelli Yoder, D-Bloomington, who signed on as a co-sponsor for the bill, said the course would help young people understand how to make key financial decisions later in life, though she added it would not address deeper economic issues.
Bill author Senator Mike Gaskill, R-Pendleton, who is an insurance agent, said, many young people don’t know how to balance a checkbook or even check their bank balances regularly.
“I think we forget sometimes that it’s for life, not school, that we learn and it’s important for us to prepare our children to be good citizens and to be able to contribute to the quality of life, not only for others, but themselves,” said Rep. Vernon Smith, D-District 14.
