- The bill would require all public school students to demonstrate skills in spending, budgeting and saving.
Students in the state of Mississippi may soon be required to demonstrate a level of financial literacy before being able to graduate if a bill making its way through the Legislature becomes law.
Under SB 2147, which passed out of the House Education Committee Wednesday afternoon, students in grades 6-12 would be required to take the financial literacy courses starting in the 2026-2027 school year.
While presenting the bill on the floor of the Senate earlier this month, Senate Education Chairman Dennis DeBar (R) said that by the 2031 school year, all potential high school graduates would be required to pass a financial literacy test.
“For years we’ve been talking about, ‘Gee, we wish kids would graduate school and know how to balance a checkbook, save some money and use credit cards and so forth.’ This is the bill that will make it happen,” DeBar said, before the legislation unanimously passed the chamber.
Drafting of the bill was done in conjunction with the Mississippi Department of Education and the Attorney General’s Office.
If the bill becomes law, all public schools, including charter schools, would be required to offer curriculum pertaining to financial decision making, saving and spending, using credit, and budgeting, DeBar stated.
SB 2147 also establishes a financial literacy trust to handle any available or necessary state and federal funding needed to implement the program.
Before the House of Representative’s Education Committee passed the bill out of committee, a reverse repealer was added, meaning lawmakers will continue to discuss the matter as it makes its way through the process. The measure now heads to House Appropriations Committee for consideration as it was double referred when it was transmitted to the chamber from the Senate.
