PROVIDENCE, R.I. (AP) — Rhode Island’s treasurer is studying how financial literacy is taught in schools.

Treasurer Seth Magaziner, state Sen. Sandra Cano and Rep. Joseph McNamara announced the statewide study.

Magaziner says there’s a pressing need for high-quality financial education for students, but there are no statewide standards for teaching financial literacy. He says he’s hoping educators will share information on their successes and challenges.

McNamara, a Warwick Democrat, is chairman of the House Health, Education and Welfare Committee. He says too many young people are not fully aware of the long-term implications of their financial decisions.

The study is part of a larger effort to expand financial empowerment in Rhode Island. Magaziner launched a roundtable a year ago to bring stakeholders together to share ideas. They are scheduled to meet July 23.