Bills to Promote Financial Literacy & Extend Learning Opportunities Receive UNANIMOUS Approval from Senate Education Committee
Legislation to build financial literacy and streamline processes to provide students with extended learning opportunities, clear important hurdle
DENVER, CO - Today, the Senate Education Committee unanimously passed two bipartisan bills aimed at helping students recover from pandemic-induced learning loss and bolstering financial literacy standards to facilitate a more robust education.
HB21-1200, sponsored by Senators Bridges & Lundeen, directs the State Board of Education to review standards relating to the financial knowledge and skills that a student should acquire in school. Specifically, the bill adds that students should be educated with an understanding of credit and debit cards, homeownership and mortgages, retirement plans, the costs of pursuing a degree in higher education, and how to obtain financial aid.
“Getting Colorado kids ready for the world means making sure they know about credit cards and student loan debt,” said Senator Jeff Bridges (D-Greenwood Village). “In today’s world, it’s just not optional. Too many young people make financial decisions that follow them for the rest of their lives. We can’t expect them to make good decisions if we don’t teach them what the consequences could be. With this bill more Coloradans will have the tools they need to be financially responsible, and that’s good for every Coloradan.”
HB21-1259, sponsored by Senators Fields and Sonnenberg, will streamline the Department of Education’s application process for school districts seeking to access stimulus funding to provide students with extended learning opportunities. This will make it easier for districts to provide supplemental resources to students and help them overcome learning losses caused by the pandemic.
“Over the last year, learning environments have been severely disrupted, causing many K-12 students in Colorado to fall seriously behind,” said Senator Fields (D-Aurora). “That’s why I am so excited to be sponsoring this bill which will accelerate districts’ ability to pursue supplemental education resources like summer school and high-impact tutoring – ensuring our students get back on track.”
HB21-1200 will now move to the Appropriations Committee for further consideration, while HB21-1259 will head to the Committee of the Whole. To read the bills and find updates regarding their status, visit leg.colorado.gov.