Mandating Financial Literacy in US High Schools
Laila Tatum
START
Review
Policy Proposition
The federal government should make financial literacy a required course in all high schools
Review
Definitions
03. High School
04. Federal Government
01. Financial Literacy
02. Required Course
Congress and the U.S. Department of Education establishing national education policies and a standard for graduation requirements (US Department of Education, Congress.gov)
Grades 9–12 in U.S. public and private schools (NCES)
A standalone, credit-bearing high school class necessary for graduation, not just an elective
“possessing the skills and knowledge on financial matters to confidently take effective action that best fulfills an individual’s personal, family and global community goals” (National Financial Educators Council)
2006
REVIEW
TIMELINE
2013
Before I jump into the solution, let me reiterate the brief background on the issue!
2025
Review
Problem Claims
- Students who receive financial literacy education are less likely to default on student loans and more likely to choose affordable repayment options
- Financial literacy is a matter of equity and empowerment, every student deserves the knowledge to make informed choices about their financial future
- Requiring high school students to take a financial literacy class will improve credit scores, lower the percent of people who miss their loan due dates, and minimize the use of sketchy lending services
Proposed Solution
Establish statewide mandates for a standalone, semester-long financial literacy course for high school graduation.
Solution
more on the soluiton
Utah is the leading state with 100% student access to financial literacy courses across public schools statewide. The state requires a standalone personal finance course for high school graduation.
* rankings based on the percentage of students guaranteed to complete personal finance coursework
+ INFO
Benefit #1
Young adults are more likely to open retirement savings accounts
It’s important to start thinking long term as early as possible, and that includes thinking about retirement and retirement savings
Nearly every student who’s taken a personal finance class reported having strong confidence in the following money skills: 95% of students are confident about budgeting, 87% about investing, and 94% about saving money (Ramsey Solutions)
Americans are notorious for not investing in their retirement, but the main reason is that we lack the knowledge of how to save for retirement and that’s why financial literacy courses are vital
Benefit #1
“Many adults lack these three important skills, which keeps them from winning with money long term,” O’Neal said. “It’s important that young people learn how to budget, save money, and invest for their retirement early in life so they can avoid the financial mistakes and regrets that many adults have,” O’Neal said. (Ramsey Solutions)
Benefit #2
Students can make solid financial decisions and set proper financial priorities
Students who take personal finance courses are given the knowledge and finance skills that lead to better prioritizing what matters, especially when it impacts their finances
+ INFO
High school students planning to attend college move forward with a solid understanding of student loans
Benefit #3
- After completing a financial literacy course, 23% of students agree that it’s important to avoid student loans and are less likely to use student loans to pay for college than students who didn’t take the course (Ramsey Solutions)
- Instead, they’re choosing to go to the following three funding sources: scholarships (69%), help from their parents (53%), and personal funding/myself (51%), instead (Ramsey Solutions)
- “It is possible to get through college without student loan debt—even if you have to foot the entire bill yourself,” O’Neal said. “It will be hard work, but it’s worth it to graduate and begin the next phase of your life without the burden of student loans.” (Ramsey Solutions)
Feasibility/Workability
- As of 2025, there are 30 states guaranteeing access to personal finance courses in public high schools, and 10 of those 30 states already have a standalone, required course fully implemented in their curricula (NGPF)
- The other 20 are in the process of implementing this requirement
- The large number of states implementing required financial literacy courses shows an interest in giving students the tools to go into the world ready to handle their finances
Costs
What will the solution cost?
IMPLEMENTATON
TRAINING
CIRRICULUM
Data
The widespread adoption of this requirement in 30 states demonstrates that implementation is achievable and provides clear models for other states to follow. New states that have implemented requirements since 2020 have seen swift policy benefits.
The curriculum materials themselves are often free and high-quality for educators that already align with state standards.
Data
The key to a successful program is robust training for educators. States are creating models for teacher support to ensure confidence and effectiveness in the classroom.
Data
+INFO
+INFO
+INFO
Counterargument #1
Financial literacy wouldn’t feel relevant to teens in high school since they don’t quite face real-life scenarios like managing a budget or creating savings accounts until they become fully independent from their parents
While it’s true that most teens aren’t still paying taxes, a basic understanding of budgeting can be incredibly helpful for high school students who are working part-time jobs
Students planning to attend college will soon face such financial scenarios where need to consider how they’re going to afford school, and student loans are one of the many sources they need to think about
According to a 2023 National Report done by the Champlain College Center for Financial Literacy, “Most college students borrow to finance their education, yet they often do so without fully understanding how much debt is appropriate for their education or the connection between their area of study and the income level that they can expect to earn upon graduation.” (Champlain College)
Counterargument #2
Teaching high school students about personal finance topics like budgeting, taxes, and retirement planning wouldn’t work because it requires thinking long-term and is too far removed from teens’ immediate needs and concerns, resulting in poor comprehension and retention after graduation
“The top three things high school students wish they knew about managing their finances are how to become wealthy (43%), how to save money (40%), and how to avoid debt (37%).” (Intuit)
In a recent Intuit Financial Education survey, they found that 85% of U.S. high school students are interested in learning about financial topics in school, and 95% of students who currently receive financial curriculum find it useful (Intuit)
The federal government should invest in the financial future of the youth and provide them the knowledge and skills to ensure every student leave high school empowered with the knowledge to manage their financial future.
Conclusion
Thank you for listening!
As of 2025, 29 states have either mandated or in the process of mandating financial education classes in high schools, but in a variety of different ways (Federal Reserve System)
By 2013, only 19 states required a personal finance course in their curricula due to conflicts with instruction time and demand for support in subjects like science and math (Federal Reserve System)
More Info
“In 2008, the state was the first to implement this requirement, providing more than 15 years of operational data. Utah maintains a 63% youth employment rate, the highest among top-performing states.” (Intuit)
In 2006, the National Association of State Boards of Education suggested that states include financial literacy in their curricula (Federal Reserve System)
More Info
In a study done by Ramsey Solutions, “students lacking a personal finance education were 25% more likely to rank television/cable as a necessity. Students who have taken a personal finance course were more likely to rank insurance (96%), utilities (94%), mortgage/rent (83%) and a college education (83%) as their must-haves.” (Ramsey Solutions)
Financial Literacy Solution Speech
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Transcript
Mandating Financial Literacy in US High Schools
Laila Tatum
START
Review
Policy Proposition
The federal government should make financial literacy a required course in all high schools
Review
Definitions
03. High School
04. Federal Government
01. Financial Literacy
02. Required Course
Congress and the U.S. Department of Education establishing national education policies and a standard for graduation requirements (US Department of Education, Congress.gov)
Grades 9–12 in U.S. public and private schools (NCES)
A standalone, credit-bearing high school class necessary for graduation, not just an elective
“possessing the skills and knowledge on financial matters to confidently take effective action that best fulfills an individual’s personal, family and global community goals” (National Financial Educators Council)
2006
REVIEW
TIMELINE
2013
Before I jump into the solution, let me reiterate the brief background on the issue!
2025
Review
Problem Claims
Proposed Solution
Establish statewide mandates for a standalone, semester-long financial literacy course for high school graduation.
Solution
more on the soluiton
Utah is the leading state with 100% student access to financial literacy courses across public schools statewide. The state requires a standalone personal finance course for high school graduation.
* rankings based on the percentage of students guaranteed to complete personal finance coursework
+ INFO
Benefit #1
Young adults are more likely to open retirement savings accounts
It’s important to start thinking long term as early as possible, and that includes thinking about retirement and retirement savings
Nearly every student who’s taken a personal finance class reported having strong confidence in the following money skills: 95% of students are confident about budgeting, 87% about investing, and 94% about saving money (Ramsey Solutions)
Americans are notorious for not investing in their retirement, but the main reason is that we lack the knowledge of how to save for retirement and that’s why financial literacy courses are vital
Benefit #1
“Many adults lack these three important skills, which keeps them from winning with money long term,” O’Neal said. “It’s important that young people learn how to budget, save money, and invest for their retirement early in life so they can avoid the financial mistakes and regrets that many adults have,” O’Neal said. (Ramsey Solutions)
Benefit #2
Students can make solid financial decisions and set proper financial priorities
Students who take personal finance courses are given the knowledge and finance skills that lead to better prioritizing what matters, especially when it impacts their finances
+ INFO
High school students planning to attend college move forward with a solid understanding of student loans
Benefit #3
Feasibility/Workability
Costs
What will the solution cost?
IMPLEMENTATON
TRAINING
CIRRICULUM
Data
The widespread adoption of this requirement in 30 states demonstrates that implementation is achievable and provides clear models for other states to follow. New states that have implemented requirements since 2020 have seen swift policy benefits.
The curriculum materials themselves are often free and high-quality for educators that already align with state standards.
Data
The key to a successful program is robust training for educators. States are creating models for teacher support to ensure confidence and effectiveness in the classroom.
Data
+INFO
+INFO
+INFO
Counterargument #1
Financial literacy wouldn’t feel relevant to teens in high school since they don’t quite face real-life scenarios like managing a budget or creating savings accounts until they become fully independent from their parents
While it’s true that most teens aren’t still paying taxes, a basic understanding of budgeting can be incredibly helpful for high school students who are working part-time jobs
Students planning to attend college will soon face such financial scenarios where need to consider how they’re going to afford school, and student loans are one of the many sources they need to think about
According to a 2023 National Report done by the Champlain College Center for Financial Literacy, “Most college students borrow to finance their education, yet they often do so without fully understanding how much debt is appropriate for their education or the connection between their area of study and the income level that they can expect to earn upon graduation.” (Champlain College)
Counterargument #2
Teaching high school students about personal finance topics like budgeting, taxes, and retirement planning wouldn’t work because it requires thinking long-term and is too far removed from teens’ immediate needs and concerns, resulting in poor comprehension and retention after graduation
“The top three things high school students wish they knew about managing their finances are how to become wealthy (43%), how to save money (40%), and how to avoid debt (37%).” (Intuit)
In a recent Intuit Financial Education survey, they found that 85% of U.S. high school students are interested in learning about financial topics in school, and 95% of students who currently receive financial curriculum find it useful (Intuit)
The federal government should invest in the financial future of the youth and provide them the knowledge and skills to ensure every student leave high school empowered with the knowledge to manage their financial future.
Conclusion
Thank you for listening!
As of 2025, 29 states have either mandated or in the process of mandating financial education classes in high schools, but in a variety of different ways (Federal Reserve System)
By 2013, only 19 states required a personal finance course in their curricula due to conflicts with instruction time and demand for support in subjects like science and math (Federal Reserve System)
More Info
“In 2008, the state was the first to implement this requirement, providing more than 15 years of operational data. Utah maintains a 63% youth employment rate, the highest among top-performing states.” (Intuit)
In 2006, the National Association of State Boards of Education suggested that states include financial literacy in their curricula (Federal Reserve System)
More Info
In a study done by Ramsey Solutions, “students lacking a personal finance education were 25% more likely to rank television/cable as a necessity. Students who have taken a personal finance course were more likely to rank insurance (96%), utilities (94%), mortgage/rent (83%) and a college education (83%) as their must-haves.” (Ramsey Solutions)