We have a tremendous opportunity to invest in the financial future of California children. Financial education greatly impacts each individual child, their future family, and our state’s economy. CA drastically lags behind the majority of other states in preparing its youth with financial skills to thrive. California has no financial literacy standards for any grade level. Compounding this crucial issue recent statistics from Next Gen Personal Finance show only 7.4% of Black and Brown students and 7.8% of low-income students have access to a stand-alone personal finance course for graduation. It is time to make financial literacy a priority!
Changes Thus Far
Some changes have occurred as AB 2215 has progressed. First, the Assembly Education Committee transferred the responsibilities of the bill from the Treasurer’s office to the Department of Education, which will oversee creating and ensuring the distribution of financial literacy content among districts, as well as update an ongoing basis financial literacy resource on its website. It makes this work contingent on a separate budget appropriation. While these changes are less ambitious than originally intended, it’s important to recognize the bipartisan support that access to financial literacy for children receives. The passage of AB 2215 paves a pathway for future changes, strengthens the legislative reputation of CA Jump$tart, and deepens our bond with the legislators who continue to see a need for financial education in California Schools.
AB 2215 Moves Through the Assembly
Today, May 20th, AB 2215 has now passed through the Assembly Appropriations Committee. This marks a breakthrough of one of the most bottlenecked portions of the legislative process. Receiving a green light from the Appropriations Committee gives AB 2215 a very high chance of passing on the Assembly floor.
The Next Steps
Now that AB 2215 has made it through the Assembly Appropriations Committee, AB 2215 will then progress onto a vote within the Assembly as a whole. Next, the process will be repeated in the Senate, so keep a look out for more updates and possible calls to action as AB 2215 makes its way to the Senate Education Committee this summer.
Join CA Jump$tart in supporting AB 2215 to ensure economic stability now and in the future. Stay tuned for more updates as the bill moves on to the Senate.