Committee advances bill to require personal-finance module at public colleges

Senator Charles Beckham and representatives from the ASU System presented Senate Bill 6 94, which requires the Division of Higher Education to develop an asynchronous module on personal finance and macroeconomics for distribution to students enrolled at public institutions.

Shane Broadway of the ASU System told the committee that many campuses already offer voluntary financial-literacy programs such as "scarlet to black" (ASU Jonesboro) and that the proposed module would be designed so it would not conflict with statutory credit requirements or graduation requirements. Broadway said the initiative complements other legislative efforts and existing campus programs and could be implemented collaboratively with partners such as Economics Arkansas.

Committee members asked about credits and graduation requirements; sponsors and higher-education representatives emphasized the module would be required as a distribution or student educational module rather than an added credit that would affect graduation. After closing remarks from the sponsor, the committee voted and the bill passed.