Proposed S.C. bill would require high schoolers to take personal finance course

Lawmakers introduced the bill December 9.
Lawmakers introduced the bill December 9.(Source: WMBF News)
Updated: Dec. 16, 2020 at 6:33 PM EST
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MYRTLE BEACH, S.C. (WMBF) - A bill under consideration in the South Carolina State Senate would require high school students to take a personal finance course before they graduate.

The bill was pre-filed by Sen. Luke Rankin of Horry County, who has filed similar bills in the past, but none made it through the entire process.

The bill states the personal finance course would eliminate the requirement of students to take an economics course and would last one semester.

Rankin said the bill would mean people who didn’t learn basic personal finance from their parents would be able to learn it in school.

“Whatever your political strife, whatever your walk of life, we all know we have got to do better with money,” said Rankin.

Sen. Greg Hembree is a co-sponsor of the bill. He believes it would help a lot of people.

“They’d just be better prepared to be successful citizens,” he said. “It’s just one incremental step. Nothing’s a magic bullet, but they’ll be hopefully better with their finances, manage them better, understand them better, get into less debt.”

Rankin hopes the bill passes, and he hopes other states take note too.

“I’m hoping this is a time that we get this done as our state and that we will be a model for other states that not only incent but that we require this to be done,” he said.

Some schools currently offer personal finance as an elective, but lawmakers believe it would serve more people to have it mandatory.

The bill was pre-filed on Dec. 9 and was referred to the Committee on Education, chaired by Hembree.

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