Lawmakers in Oregon have taken a significant step towards improving the financial literacy and career skills of high school students. In 2023, Senate Bill 3 was passed with bipartisan support, requiring students to earn credits in personal finance and career skills in order to graduate.
The impact of this bill is expected to be substantial, with Oregon’s national ranking in financial literacy projected to rise from a “C” to an “A” according to a national survey. Former state Sen. Rick Metsger, who lobbied for the bill on behalf of credit unions, emphasized the importance of providing students with the necessary skills to succeed in the workforce.
However, a recent development has caused controversy. The Oregon Department of Education released two options for implementing the new requirements, one of which goes against the legislative intent by integrating the curriculum into existing courses rather than creating standalone courses as intended.
Metsger and other advocates for Senate Bill 3 are concerned that this change undermines the purpose of the bill and fails to provide students with comprehensive financial education. The Department of Education maintains that both options provide students with the required credits, but critics argue that the second option sacrifices the quality of education.
The State Board of Education will consider adoption of the rules in May or June, but the debate over the implementation of Senate Bill 3 is far from over. Public input will continue to be considered, and the final decision will have a lasting impact on the financial literacy and career readiness of Oregon’s high school students.