Sen. Berthel Applauds Governor’s Signing of Bill Promoting Financial Literacy for High School Students

Chief Deputy Republican Leader Eric Berthel (R-Watertown), ranking member of the Education Committee, today applauded Gov. Ned Lamont’s signing of S.B. 1165, which is a bipartisan measure that promotes financial literacy for the state’s public high school students.

The measure’s original concept, introduced by Senate Republicans (Proposed S.B. 18), requires high school students to complete a one-half credit course in personal financial management and financial literacy for graduation. The policy is part of the Senate Republicans’ comprehensive ‘A Better Way to a Prosperous Connecticut’ series of legislative workforce measures to put young people on a path to a well-paying career to support themselves and their families.

Senator Berthel has also advocated for similar financial literacy programs since elected to the legislature in 2015.

He said, “After advocating for financial literacy education for nearly a decade, I’m thrilled that we’ve crossed the finish line with this commonsense idea.

“Recent studies show the significant impact of financial literacy education on high school students, leading to improved career outcomes and enhanced financial management skills. In a state well-known for its high cost of living, financial burdens affect all generations of residents. Many young people feel compelled to leave Connecticut in pursuit of more affordable living standards for a better quality of life.

“By prioritizing financial literacy education, we equip our youth with the necessary tools to navigate these economic challenges with confidence, enabling them to make informed financial decisions. This not only empowers our future workforce but also contributes to the state’s ability to retain and nurture the very drivers of our economy.”

Research shows that over 60 percent of Americans live paycheck-to-paycheck and struggle to save money for short-term or long-term financial goals. Credit card and student loan debt are also at historic highs, at a whopping $930.6 billion and $1.757 trillion, respectively.

Read the complete ‘Better Way to a Prosperous Connecticut’ workforce plan here.