SF 168

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to higher education; requiring student
financial management proficiency at public
postsecondary institutions; amending Minnesota
Statutes 2004, section 135A.053, by adding a
subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2004, section 135A.053, is
amended by adding a subdivision to read:

new text begin Subd. 3. new text end

new text begin Personal financial management and
investment. new text end

new text begin Prior to conferring a baccalaureate or associate
degree, a public postsecondary institution shall determine
student proficiency in personal financial management and
investment. Students must understand fundamental economic and
consumer principles, be able to manage personal and household
finances, and develop a range of competencies that will enable
them to become responsible investors, savers, and consumers in a
free enterprise economy. The governing boards of private
institutions that grant associate and baccalaureate degrees are
requested to make the same determination of student proficiency.
new text end