House Committee Passes Bill Aimed at Educating Ohio's Youth on Financial Literacy

COLUMBUS—The Ohio House Education and Career Readiness Committee today passed legislation aimed at increasing opportunities for Ohio’s youth to become more educated and better informed about financial literacy.

Jointly sponsored by State Representative Christina Hagan (R-Marlboro Township), House Bill 108 requires the Chancellor of Higher Education to prepare an “informed student document” for state colleges and universities to provide to students. The document would include information on academics, cost of attendance, student success rates and admission data.

“I am honored to have bipartisan support on a bill designed to reduce debt burdens and enhance students’ financial well-being across all walks of life,” Rep. Hagan said. “This legislation is beneficial to every Ohioan and will give us a stronger future where Ohioans are better prepared to make life-altering financial decisions both in their homes and for our economy.”

The bill also takes further steps in educating students about their finances by requiring high schools to provide one-half unit of instruction in financial literacy and economics. This allows students to have more tools to navigate financial decisions and to learn more about credit, debt and investments.

House Bill 108 will now be considered for a vote by the full House.