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Treasurer Magaziner Applauds Passage of Financial Literacy Bill by Rhode Island House of Representatives

This afternoon, Rhode Island General Treasurer Seth Magaziner applauded the passage of House Bill No. 5491 to ensure all Rhode Island high school students have access to personal finance education by the Rhode Island House of Representatives. The bill was introduced at the request of the Treasurer.

"As a former public school teacher who taught financial literacy courses, I've seen firsthand how much financial literacy education during school years can affect outcomes later on in life. Every student should have access to the personal finance instruction they need to responsibly manage their finances after graduation and into adulthood," said Rhode Island General Treasurer Seth Magaziner, a former public school teacher. "I applaud passage of this legislation, which will guarantee access to personal finance instruction for every Rhode Island student, and positively affect their lives for years to come."

The Treasurer's office collaborated with bill sponsors House Deputy Whip Mia Ackerman, House Education Chair Joseph McNamara, Senate Education Chair Sandra Cano, financial literacy educators, students, and leaders in the non-profit and banking sectors to write H5491, legislation that was crafted after the Treasurer released a 2018 report on the importance of financial literacy education in the state. The legislation will ensure all Rhode Island high school students receive personal finance education, and directs the RI Department of Education to provide resources to teachers to facilitate personal finance instruction. Rhode Island is currently one of only 14 states that does not guarantee access to personal finance education for all students. The companion bill was passed unanimously by the Rhode Island Senate earlier in this legislative session.

Related links

  • Department or agency: Office of General Treasurer Seth Magaziner
  • Online: http://treasury.ri.gov
  • Release date: 05-11-2021

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