BMIT - News and Updates
Week of June 13
The Department has issued the following news release:
State Board of Education Takes Action to Update Personal Finance Learning Standards
Today the Missouri State Board of Education approved the creation of a work group to review the state’s personal finance learning standards. This will be the first review of the standards since 2006, when the State Board revised graduation requirements for Missouri students to include one-half credit of personal finance.
“Our young people must have access to a dynamic, relevant curriculum in K-12 education in order to navigate real world challenges later in life,” Missouri Treasurer Clint Zweifel said. “I appreciate the work of the Board to make some much needed updates to the personal finance curriculum in Missouri and look forward to assisting the effort however I can.”
Missouri is just one of 14 states that require a specific course on personal finance in high school. The current standards help students understand sources of income; create a financial plan for themselves; understand credit and saving and investing. However, the financial world has changed drastically in the last 10 years and Missouri students need to be adequately prepared.
“Financial literacy is critical to the success of our students as they make plans for postsecondary education and the work force,” said Missouri Commissioner of Education Dr. Margie Vandeven. “This work is an important part of ensuring all Missouri students graduate prepared for life.”
The Missouri Revised Statute Section 160.514 states that a work group comprised of education professionals must be convened by the Department following the decision to modify or revise academic performance standards. Lawmakers and educators must nominate a total of 17 work group members consisting of current education professionals, current or retired career education professionals and parents. The law requires three public hearings for public input during the creation of the revised standards. Once approved by the State Board, school districts use state standards as guides for local curriculum to help students meet the revised learning expectations.