Senate Passes Bipartisan Bill to Teach Oregon Students Personal Finance, Career Path Skills

SALEM – Tuesday, the Oregon Senate passed Senate Bill 3, which will add to Oregon high school graduation requirements one half-credit of personal finance education and one half-credit of higher education and career path skills.

The bill passed 24-1 and now heads to the House for consideration. 

As defined in the bill, personal finance education includes instruction on:

• Credit scores, how to build credit, long-term impacts of good or bad credit and the costs and benefits of borrowing money on credit
• Investments, assets, types of bank accounts, understanding retirement plans and the total cost of loan repayment
• Budgeting strategies
• Comparing costs associated with renting and home ownership
• Tax credits, filing state and federal tax forms and familiarity with federal, state, regional and local taxes
• Building financial well-being, including preventing fraud and identity theft

"Our students must be prepared to make major financial decisions immediately upon graduating high school, if not sooner," said Senate President Rob Wagner (D-Lake Oswego), co-chief sponsor of the bill. "This bill will help ensure our young people are leaving school with the skills they need to make good financial decisions now and throughout their lives."

Instruction on higher education and career path skills will include:

• Resume writing and filling out job applications
• Applying for post-secondary education institutions, apprenticeships and job-training programs, including finding financial aid and scholarships
• Developing and improving employable skills and taking advantage of community-based learning 
• Acting as a self-advocate for mental, physical and financial health

"Our schools have always been about more than reading, writing and arithmetic. They are about helping young people find the path that is best for them," said Senator Michael Dembrow (D-Portland), co-chief sponsor of the bill. "The better our students understand the various paths they can take after graduating, the more successful they will be on those paths."

These courses will be required for students graduating in January 2027 and beyond.

Despite having bipartisan support, Senate Bill 3 is one of hundreds of bills that were threatened by the Senate Republican walkout.