BOSTON (WWLP) – State Treasurer Deborah Goldberg participated in a virtual hearing Monday before the Joint Committee on Education in support of House Bill 42: An Act requiring financial education in schools.
The Treasurer’s Office of Economic Empowerment commissioned a report to identify which public schools in Massachusetts are teaching financial literacy. Treasurer Goldberg filed this bill to require that financial education be offered in every public school in the state in an effort to ensure all students have access to financial literacy skills.
In her statement before the committee, Goldberg said, “The research is clear. Students who receive this education have been more likely to save, budget, invest, and increase their credit scores. Given the past year and a half of economic uncertainty and devastation, there is no better time to ensure all Massachusetts students learn foundational financial skills so they can be prepared for a life that often has uncertainty.”
She also said that Massachusetts is one of 12 states and the District of Columbia that does not have a state level requirement for financial literacy programs in schools.