Teaching financial literacy in high school empowers students to make better financial decisions, but the journey to widespread education is just beginning.
At a Glance
- As of March 2025, 27 states now mandate personal finance courses for high school graduation.
- Studies indicate that a single high school finance class can increase a student’s lifetime wealth by approximately $100,000.
- Capital One and Khan Academy have partnered to offer a free online financial literacy course to make this education more accessible.
- A significant challenge to widespread implementation is the shortage of teachers who are properly trained to teach personal finance.
- Parents also play a pivotal role in bridging the financial literacy gap by teaching children about money from an early age.
The Rise of Personal Finance Education
In recent years, financial literacy has gained vital importance in the curriculum of American schools. States are now recognizing the gap in financial education and have begun mandating personal finance courses. As of March 2025, 27 states require students to take these classes to graduate.
This change is driven by a growing understanding of the need to equip students with real-world skills. As reported by financial outlets like MoneyWise, studies indicate that a single high school finance class can increase a student’s lifetime wealth by approximately $100,000.
Tools and Support for Financial Literacy
To meet this growing need, Capital One has collaborated with Khan Academy to launch a free online financial literacy course designed to make high-quality financial education accessible to all. The self-paced course covers critical topics such as budgeting, saving, credit, debt, and retirement planning.
Other key players, like eDynamic Learning, are offering curated resources and simulations to enhance financial education. Their personal finance simulation provides students with real-world experiences to practice financial decision-making in a safe environment.
Overcoming the Challenges
A significant hurdle in the expansion of financial literacy education is the shortage of qualified teachers. An estimated 23,000 educators are needed to accommodate the growing demand. In a report from Yahoo Finance, education expert John Pelletier explained the problem.
“What we don’t have is highly trained teachers because it is an orphan curriculum,” Pelletier said. This highlights the imperative for education systems to invest in training educators to properly equip students with this essential knowledge. Parents also play a pivotal role, and encouraging children to grasp basic financial concepts from an early age can foster a strong foundation for future stability.
