“Growing Focus on Financial Education: California Becomes 26th State to Require Finance Education for High School Students”
California Joins Growing Trend of Requiring Financial Education for High School Students
In a move to better prepare students for their financial futures, California recently became the 26th state to mandate finance education for high school students. By 2027, students in the state will have access to a stand-alone personal finance course, as per a new law signed by Governor Gavin Newsom.
Newsom emphasized the importance of financial literacy, stating that it is a necessary skill that students should acquire at an early age. “Saving for the future, making investments, and spending wisely are lifelong skills that young adults need to learn before they start their careers, not after,” Newsom said in a statement.
A recent report from consultant company Tyton Partners revealed that only 24% of high school students nationwide were guaranteed at least one semester of personal finance as of March 2023. In California, less than 1% of high school students are currently required to take a personal finance course.
State Superintendent of Public Instruction Tony Thurmond echoed the sentiment, emphasizing that every child should have the opportunity to build essential financial skills before facing adult financial choices. California’s move follows Pennsylvania, which became the 25th state to guarantee a stand-alone, half-credit course in financial literacy.
The trend towards requiring financial education in high schools has been steadily growing. In 2020, only eight states mandated the curriculum, but by 2022, that number had increased to 17. Next Gen Personal Finance, a finance curriculum provider, offers a live dashboard tracking financial education requirements in the U.S.
For more information on which states require finance education and to stay updated on curriculum and instruction news, visit the dashboard provided by Next Gen Personal Finance or read District Administration’s latest coverage on the topic.