Audit gives good grades to Utah’s financial literacy program
SALT LAKE CITY (AP) — A state audit report gives good grades to Utah’s decade-old mandate that high school graduates satisfy a financial literacy requirement but suggests there’s room for improvement of the program’s effectiveness and oversight.
An Office of the State Auditor report says results of its review show that Utah students who completed the requirement apparently “better personal financial knowledge and make better behavioral choices” than those who don’t.
Utah requires that high school students take a half-year course on personal finance topics and then take a state-administered test and that teachers of the financial literacy course have taken coursework on financial planning, credit, investigating and other consumer economic topics.
The report recommends new reporting and review requirements. It also recommends that the state share the best lesson plans with all instructions.