Jul 25, 2016 11:56 PM EDT By Leah NY, UniversityHerald Reporter

The State Board of Education approved a month ago the review on finance learning standards to be implemented in schools. This approval been seen as a milestone for many education officials as it has opened the hope for financial literacy among students.

The said review in finance learning standard will require students to take a half-credit course which will cover mostly about their knowledge in handling their finances. It will get into their income generation, spending habits, saving, perception about credit, the proper use of credit cards and a lot more.

The standard was organized in 2006. Passionate about it and believing its significance for today's generation, Clint Zweifel, State Treasurer pushed its most recent review.

Students, as young as they are may be at risk of financial mismanagement as student loans are now made more available than before.

Zweifel said that this initiative is a way of empowering people to achieve their hopes and dreams and eventually materialize and turn them into reality.

This review on financial learning standard aims to touch the things that affect the minds of young people immediately; from there the educators can now penetrate and open their eyes to the bigger picture.

Among those excited about this financial learning standard review is Paul Cushing, Columbia Board of Education member. Cushing sees the urgency of time and the need to immediately equip the young minds with financial literacy.

Darin Preis, Cushing's fellow Columbia school board member said that change is taking place so fast and the kids are becoming smarter and smarter. But he believes that there are still the same elements to understand personal finance, income, and savings. And that is what the former generation needs to pass on to the younger ones, Columbia Daily Tribune reported.

Various schools from different parts of the world are also offering courses on financial literacy. This review on financial learning standards may be a big leap towards preparing these future leaders in making wise financial choices today, Edutopia reported,

Watch this video for more on financial literacy.

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