The Council for Economic Education (CEE) has been working for 75 years to make personal finance education a requirement in all high schools. Their mission is to equip K-12 students with the tools and knowledge of personal finance and economics so they can make better decisions for themselves and their families. The 2024 Survey of the States showed significant progress in financial education across the country, with 12 states passing legislation requiring all students to take a stand-alone course in personal finance to graduate from high school. This will give over 10 million additional students access to this essential knowledge.
Research has shown that even a semester of personal finance education can have a positive impact on young people’s financial decisions in early adulthood. At a live event unveiling the CEE’s findings, panelist Kevin Morgan emphasized the importance of personal finance education, stating that it is the most important course a student will ever take. He noted that students are engaged in the subject because they understand its relevance. PA State Senator Chris Gebhard shared his experience of growing up with financial education at home and pushing for legislation in Pennsylvania to require personal finance education in high schools.
While most people agree that personal finance education is important, getting legislation passed can be a challenge. In 2023, Pennsylvania successfully passed a bill requiring personal finance education in high schools. Senator Gebhard emphasized the importance of finding an advocate to champion the idea and push for legislation in each state. Those interested in strengthening economic and personal finance education can do so by requesting a course in their school or district, calling for professional development for teachers, promoting standards and course requirements at the state level, and contacting the Council for Economic Education or local CEE affiliate.
Overall, the push for personal finance education in high schools has seen significant progress in recent years, with more states passing legislation to require this essential knowledge for graduation. The CEE’s efforts have been instrumental in advocating for financial education and equipping students with the tools they need to make informed decisions about their finances. By continuing to push for personal finance education at the state level and in schools and districts, we can ensure that all students have access to the knowledge they need to achieve their full economic potential.
