What Alabama’s new financial literacy law means for students

A new bill, just signed by Gov. Kay Ivey, will require students to complete an updated financial literacy and money management course before they graduate high school.

“You need to understand the contracts you’re signing, credit cards applying for, and the loans you’re signing, so you make wise decisions. We want all students financial independent. To do so, they have to make wise decisions,” said Alabama State Superintendent of Education Dr. Eric Mackey.

Dr. Mackey tells WVTM 13’s Ian Reitz that a course on finances is already required, but this new requirement modernizes the class.