California leaders recently shared their plan to implement a new financial literacy graduation requirement for high school students. The goal is for all public high school students to take a stand-alone personal finance course by 2027.
During a virtual meeting, officials discussed how to make this happen. State Superintendent Tony Thurmond mentioned that Next Gen Personal Finance will partner with the state to help fund professional development for teachers who will lead the new courses.
Thurmond added that a model curriculum will be developed to show teachers how the course will look in classrooms. Many experienced educators will work on creating this curriculum soon.
Benjamin Akioyame, a personal finance teacher at Hoover High School in Fresno, explained the real-world importance of personal finance. He pointed out that learning how to manage money matters for things like retirement, paying for children’s education, or even being able to donate to charity.
Supporters of the new law argue that financial education helps students develop important life skills, setting them up for financial independence and success. A report from Tyton Partners estimates that the average lifetime benefit for nearly half a million California students taking the course will be $127,000.
Experts say personal finance can seem challenging at first, but students can start by learning simple concepts like financial terms and understanding what a credit score is.