Personal finance education is now mandatory in Pennsylvania, marking the 25th state to focus on improving economic literacy.
Beginning in the fall of 2026, Pennsylvania schools will introduce a required course in personal financial literacy for students in grades 9 through 12. This follows the signing of an omnibus bill by Governor Josh Shapiro, and is a crucial step towards financial education for students.
Yanely Espinal, Director of Educational Outreach at Next Gen Personal Finance, a non-profit financial education advocacy organization, says that with this legislation, over half of high school students across the country will soon have guaranteed access to a standalone personal finance course. Currently, eight states enforce such a guarantee, and an additional 17 states are in the process of implementing similar policies.
Financial education in high schools has gained momentum in 2023, with eight states adopting policies to ensure students take a personal finance course before graduation. Wisconsin, for instance, recently signed a bill requiring high school students to complete a personal finance literacy course to graduate, starting with the class of 2028.
The Center for Financial Literacy at Champlain College’s latest “report card” reveals that seven states—Alabama, Iowa, Mississippi, Missouri, Tennessee, Utah, and Virginia—earned an “A” grade for requiring personal finance courses for the class of 2023. By 2028, when new laws and policy changes are fully implemented, 25 states are expected to earn an “A,” reflecting a significant shift in educational priorities.
Personal finance education covers essential topics such as earning income, spending and savings, credit management, investing, and risk management. Advocates stress the importance of these courses, emphasizing that financial education is crucial for making informed decisions about money throughout one’s life.
While progress is being made, challenges remain, as some states, including California, Connecticut, Massachusetts, South Dakota, and Washington, D.C., still lack substantial requirements for personal finance education. Advocates are actively working to change these laws, recognizing the positive impact of financial education on students’ lives.
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