Financial literacy education is now required for high school graduation in 30 states, a dramatic expansion from just 8 states in 2020. The curriculum covers budgeting, investing, credit management, taxes, and insurance — topics that advocates say are essential for adult financial success.
Research from the National Endowment for Financial Education shows that states with mandatory financial literacy requirements see 10% higher savings rates and 15% lower debt-to-income ratios among young adults compared to states without requirements.
The typical course covers personal budgeting (including using apps), understanding credit scores and how to build credit, the basics of investing including 401(k)s and IRAs, tax preparation, insurance decisions, and avoiding financial fraud.
Teachers report that students are highly engaged with financial literacy content, particularly when real-world tools and simulations are used. Stock market simulation games, budgeting apps, and mock tax preparation exercises make abstract concepts tangible.
The expansion has been driven by a bipartisan coalition of legislators, financial institutions, and nonprofit organizations. The Financial Industry Regulatory Authority (FINRA) has provided $100 million in grants to support teacher training and curriculum development.
