Governor Mary Fallin signed legislation to update our personal finance education mandate. We are thrilled and so thankful for how this will help our teachers and students
Here are a few highlights of HB1694 on personal financial education:
- Adds an area of instruction regarding understanding the FAFSA and student loans to address the student loan crisis
- $0.22 of every deferred deposit loan will go into a fund to support professional development for teachers in financial education. Another $.08 will support consumer credit counseling services. Lenders are prohibited from including payments in the fees and charges of customers.
- Teachers who are assigned to teach personal finance shall complete professional development.
- In order to deliver high-quality consistent personal financial literacy instruction, school districts shall to the extent possible assign the responsibility for teaching personal financial literacy to the same teacher or teachers on a continuing basis.