AUGUSTA, Maine — Lawmakers in Augusta are currently engaged in discussions over a proposed bill that could make Maine the 20th state to require high schools to teach personal finance as a standalone course.
The bill aims to equip students with essential financial knowledge, preparing them for a lifetime of responsible money management.
While some high schools in the state already offer personal finance as an elective, this bill seeks to make it a core component of the education system.
"As an educator, I believe kids are truly listening to the information that we are offering to them," Kelly Horton, a personal finance teacher at Falmouth High School, said.
Sen. Mattie Daughtry, the driving force behind the bill, emphasized the importance of students learning essential life lessons related to financial literacy.
Daughtry proposed the bill last year with the goal of implementing financial literacy classes in all Maine high schools.
"I've heard from students who are struggling to make decisions about going to college and how to balance financial life. I've heard from students who are on their own at a young age and really need this to advocate for themselves," Sen. Daughtry said.
New England states such as New Hampshire and Rhode Island already have similar requirements in place.
Thursday's work session will play a crucial role in determining whether the bill will progress closer to becoming law in Maine.
"I think this is one of the things you need to be a part of society and navigate getting a job, renting an apartment, or opening your first checking account," Sen. Daughtry said, underlining the practicality of financial education in preparing students for various aspects of adult life.
Supporters of the bill, including Mrs. Horton, hope that the personal finance course will soon become a standard offering for all students.
Sen. Daughtry optimistically mentioned that if all goes well, the bill could move to the full Senate for consideration in the next week.