Update at 4:09 p.m. - The financial literacy program was approved by the legislature with an overwhelming majority: 77-2.
Last year, CIANJ supported a bill introduced by Assemblyman Gary Schaer (D-36) that would have established a financial literacy program for New Jersey high school students. The program was designed to teach the basics about credit card debt, savings, investment, and interest. You know, the tools needed to help students live financially responsible adult lives.
The bill never became law because of Assembly and Senate haggling. However, it has been reintroduced this year, passed by committee and gets its final vote in the Assembly today. A copy of the new legislation, which will create a pilot program in six districts, is available here. It deserves the support of the entire legislature and New Jersey's high school students deserve the immediate opportunity.
