Proficiency in financial planning could determine whether or not students graduate in SC
Horry County, S.C. (WPDE) —
Standardized testing in financial planning could become a reality in South Carolina schools, if a newly proposed bill is passed.
Senator Luke Rankin of District 33 said there’s no doubt South Carolina has some of the finest schools in the country, and believes his bill will not only add to the academic success of students, but also benefit the nation as a whole.
"South Carolina and the nation as you know, many do not handle credit well particularly the young folks," said Senator Luke Rankin.
This new bill would make proficiency in personal finance a prerequisite for graduating seniors statewide.
"Personal debt is at a record level, folks getting out of high school going into college taking on student debt at a record level," said Rankin.
He said the solution to our nation’s debt crisis moving forward has to start with our kids, and some parents agree.
"I maxed out my credit card bills at 18, 19 years old because i didn’t know how to manage my money properly because i didn’t have a course like that," said Jamie Houp, who has three kids in South Carolina schools.
"When you know how to balance money, better, you can get further in life," said Michael Holmes who lives in Horry County.
Rankin said a number of other states require standardize testing in financial planning for students, and studies have shown great success in those states, which is why he says South Carolina should too.
"I'm hopeful that we will pass this and South Carolina will have something to brag about as regards to what we require of our students and as a public policy, to make our future bright for all of our citizens," said Rankin.
If the bill does go through, it would affect the 2020-2021 school year.