Governor Gavin Newsom has reached an agreement with lawmakers and nonprofit leaders on the importance of teaching personal finance skills to children. This initiative has become a top priority for California lawmakers, who are swiftly supporting bills mandating financial literacy education for students statewide.
The focus on financial literacy for California students has led to the passage of Assembly Bill 2927, which adds financial coursework to the graduation requirements for public and charter school students in grades 9–12. Governor Newsom confirmed that he will sign the bill into law, with it taking effect for the 2027–28 school year.
Assemblyman Kevin McCarty, who introduced the bill, emphasized the importance of students learning financial skills early on to make informed money decisions throughout their lives. The bill aims to integrate financial literacy coursework into the existing social studies framework of the state’s Education Code.
While there is strong support for incorporating financial education into the curriculum, conflicts with other bills addressing the same education code have delayed the progress of some legislation. Assemblyman Juan Alanis’s bill, which proposes teaching financial skills to grades 7–12, is currently on hold in the Senate.
Despite these challenges, studies show that a majority of high school students in the U.S. are eager to learn about finances and find financial literacy education helpful. As lawmakers continue to work towards improving financial education in schools, the hope is that these initiatives will equip students with the necessary skills to make sound financial decisions in the future.
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