House Majority Leader Ferdinand Alexander Marcos III on Tuesday said the chamber has been advancing key reform measures with urgency, particularly those with direct impact on daily life and long-term competitiveness, under the leadership of Speaker Ferdinand Martin Romualdez.

“We have been productive in passing bills that help Filipinos in daily life, and financial literacy is one of the most practical tools we can give our students,” said Marcos, one of the principal authors of the measure.

Approved on final reading, House Bill No. 7628 mandates all public and private higher education institutions (HEIs), technical-vocational institutions and organizations (TVIOs), and training centers under the Technical Education and Skills Development Authority to offer a Personal Financial Literacy course. Students must obtain a passing grade as a requirement for graduation or completion of a degree or technical-vocational education and training (TVET) program.

The proposed measure goes beyond basic budgeting and aims to equip students with the knowledge and skills needed to make informed financial decisions, develop sound money management habits as they enter the workforce, and protect themselves from scams, fraud and debt traps that often target young earners.

The bill outlines core topics including personal finance fundamentals, the time value of money, consumer behavior in the Philippine context, debt management and rehabilitation, savings and emergency funds, investment planning, retirement planning, insurance, credit scoring and credit reports. It also includes instruction on the responsible use of digital payment platforms and cyber hygiene to strengthen data security and consumer protection.

To ensure consistency in implementation, the bill directs the Commission on Higher Education and TESDA to coordinate with the Bangko Sentral ng Pilipinas, the Department of Finance, the Securities and Exchange Commission, and the Insurance Commission in developing academic standards, curricula and instructional materials. Implementing rules and regulations are to be issued within 90 days from the law’s approval.

Lawmakers said the measure seeks to give students practical skills that extend beyond graduation, noting that financial habits formed early often influence long-term economic stability.

“Financial literacy is life literacy. When students understand savings, credit and risk early, they protect themselves and their families as they step into adult responsibilities,” the authors said.

With the bill’s approval on final reading, House leaders expressed optimism that the measure will advance as part of broader efforts to strengthen student preparedness, enhance consumer protection and promote a more financially resilient workforce.