Hall authors financial literacy bill for high school students

A Jackson County legislator has authored a measure that would require high school students to complete a financial literacy course before graduating.

Under the proposed legislation introduced by District 62 Rep. Dave Hall, R-Norman, students in the Class of 2027 would have to successfully complete a personal financial responsibility course before being able to graduate from a public, charter or state-accredited nonpublic school.

“Having basic financial knowledge and skills, like creating a budget, using a credit card or applying for a loan, are key components to being a successful adult,” Hall said. “Equipping young adults with a basic understanding of money management will help them avoid potential pitfalls and live a much more productive and successful life.”

Topics in Hall’s financial literacy course would include spending and saving, opening and managing bank accounts, debt management, tax returns, loan applications and credit and credit scores.

The state board of education would be tasked with establishing the curriculum.

House Bill 1281 is assigned to the House education committee for consideration. District 78 Rep. Timothy O’Brien, District 36 Rep. Kyle Pierce and District 54 Rep. Cory Criswell are co-authoring the bill.

In 2014, Hall and his wife, Bradie, took Dave Ramsey’s nine-week Financial Peace University course and paid off all of their debt in February 2018. Dave also taught the course at the church they attend in Bedford.

The Halls then wanted to offer the class in their community. Dave came across Ramsey’s foundations in personal finance class that’s geared toward high school students and teaches budgeting, balancing a checkbook and entrepreneurship.

He paid $2,000 to be a sponsor of the class, which provided the materials for up to 250 Brownstown Central High School students in the 2018-19 school year.

The hope was for students to gain basic life skills they could carry with them as they move on in life.