Tennessee Becomes Third State to Mandate Personal Finance Education for Public Students

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Financial Crisis Creates Back-to-School Finance Requirement

Whether personal finance is required as a stand-alone course or as part of a broader focus in other subject areas, the current economic crisis -- caused in part by consumers' lack of understanding of debt and credit risks -- has spurred many to reconsider whether schools are adequately preparing students for the financial complexities of adulthood

Starting in September, Tennessee will become the third state to require every student in the public school system to learn about personal finance before receiving a diploma. Although 21 states already teach personal finance in some form (often as part of a math or economics course), only Missouri and Utah had made it a pre-requisite for graduation. Other states are now looking into adding personal finance classes to their standard curriculum and/or graduation requirements.

"Whether personal finance is required as a stand-alone course or as part of a broader focus in other subject areas, the current economic crisis -- caused in part by consumers' lack of understanding of debt and credit risks -- has spurred many to reconsider whether schools are adequately preparing students for the financial complexities of adulthood," said Rob Wyse, a spokesperson for CreditFYI, a leading consumer advocacy website on consumer credit and fraud

The personal finance classes in Tennessee, which leads the country in the percentage of state residents who file for bankruptcy, will focus on money management, saving and investing, spending, credit and more. Personal finance courses for high school students in other states cover everything from credit scores and bankruptcies to applying for a loan and balancing a checkbook, according to CreditFYI.

It's said that those who don't learn from history are condemned to repeat it. While the current economy has exposed a painful truth about the financial prowess of today's consumers, greater attention to personal finance skills in the public school system could help future generations avoid a repeat of today's economic errors, CreditFYI notes.

To read the full story, visit http://www.creditfyi.com/High-Schools-Add-Personal-Finance-to-Degree-Requirements.htm.

About CreditFYI.com

CreditFYI.com is a leading consumer advocacy website on consumer credit and fraud. For more information, visit http://www.creditfyi.com.

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