HARTFORD, Conn., June 8, 2023 /PRNewswire/ -- On Wednesday, Governor Ned Lamont signed into law Senate Bill 1165, bipartisan legislation that makes Connecticut the 21st state to guarantee a standalone personal finance course for high school students. Advocates, including a former NFL player, applaud the effort.
"I was fortunate to leave high school to enjoy a great playing career, but with that came difficult financial decisions and temptations," said New London native and retired NFL player, Jordan Reed. "Now as a father of two, I hope that my children, and all of our kids, will be taught and given the personal finance tools to make informed and responsible decisions for life after high school."
Reed teamed up with the NGPF Mission 2030 Fund, a nonprofit that advocates for this policy in all states, and Karen Talamelli-Cusick, Woodbridge resident and Executive Vice President of social impact organization Impact Wayv, to bring public awareness to the bill this spring.
Connecticut now requires students entering high school in the 2023-2024 school year to take a one-semester personal finance course. The course can fulfill existing graduation requirements within social studies or electives.
Barbara Angelicola-Manzolli, a personal finance teacher from Lewis S. Mills High School in Burlington, galvanized the bill's passage with student advocacy visits to Hartford.
"After teaching my first semester of personal finance in 2007, I knew this class was needed for all high school students," said Angelicola-Manzolli. "I am so proud of my students' role in inspiring this historic law."
"Adding financial literacy as a requirement will help students make more informed decisions in banking, investing, and protecting their money," said State Representative Jeff Currey (D-East Hartford, Manchester), House Chair of the Education Committee in the Connecticut General Assembly.
"If we want young people to succeed in life, we have to make sure we give them the tools they need to thrive," said Rep. Tom Delnicki (R-South Windsor), a co-sponsor of the bill. "I am happy to have advocated for this vital proposal for the financial benefit of our young people in a bipartisan manner."
"Lawmakers and advocates built momentum over several years to ensure success in 2023," said Salisbury native Christian Sherrill of the NGPF Mission 2030 Fund. "Our state is now on the leading edge of the movement to guarantee all high school students a life-changing personal finance course!"
Research shows that high school personal finance courses positively impact student debt decisions and credit scores, help graduates avoid predatory lenders, increase savings rates among teachers, and generate positive spillover effects on parents.
"Financial literacy empowers marginalized communities and lays the foundation for generational wealth," said Rep. Corey Paris (D-Stamford), who co-sponsored the bill and led press events to publicize the bill's progress. "These classes help narrow the opportunity gap so that all students are well-prepared for financial realities after graduation."
Next Gen Personal Finance:
Next Gen Personal Finance is a national nonprofit committed to guaranteeing that all high school students receive a personal finance course. NGPF has become the "one-stop shop" for over 80,000 educators who use NGPF's free, engaging personal finance curriculum to empower their students with skills to thrive in the future and free teacher professional development to build confidence and content expertise. NGPF has been recognized by Common Sense Education as a "Top Website for Teachers to Find Lesson Plans."
NGPF Mission 2030 Fund:
The Mission 2030 Fund is a nonprofit affiliated with Next Gen Personal Finance and focused on advocating for financial education in state legislatures.
Tim Ranzetta, Co-Founder
NGPF Mission 2030 Fund/
Next Gen Personal Finance
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SOURCE Next Gen Personal Finance