Md. official seeks financial literacy requirement

CUMBERLAND, Md. – (AP) Maryland Comptroller Peter Franchot says he is pushing to make a semester-long financial literacy course a graduation requirement statewide.

The Cumberland Times-News reports that Franchot outlined the goal Monday at Fort Hill High School in Cumberland. The school is in Allegany County, which recently mandated such a requirement starting with the Class of 2012.

At least five other Maryland counties require students to take a course covering money management, consumer rights and responsibilities, spending, and credit.

The JumpStart Coalition for Personal Financial Literacy says three states Missouri, Tennessee and Utah require such a one-semester course. The group says another 18 states require that personal finance instruction be incorporated into other subject matter.