State treasurer asks for personal finance classes in school

PROVIDENCE, R.I. (AP) - The Rhode Island general treasurer wants personal finance courses to be taught in all state high schools.

General Treasurer Seth Magaziner notes that 36 states already require personal finance as part of a high school education.

The Providence Journal reports that Magaziner noted in a white paper released last week that research shows Rhode Island’s college graduates have a high rate of financial difficulties.

Magaziner says the state’s rate of delinquent mortgage loans is ninth-highest in the nation. Rhode Island also lags behind the nation in average retirement savings.

Magaziner is making a number of recommendations, including a requirement to demonstrate a basic understanding of personal finance to graduate.

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Information from: The Providence Journal, http://www.providencejournal.com