25 states that are home to 53% of U.S. public high schoolers have made personal finance a standalone graduation requirement of at least one semester. What's moving personal finance education forward within and beyond the chambers of state legislatures? Trends from the advocacy trail in 2024.

Financial education legislative trends

NGPF offers its Financial Education Bill Tracker, Live U.S. Dashboard, and Advocacy Toolkit to empower advocates to track and participate in legislative efforts that would impact access to financial education in high schools. Since 2020 educators, advocates, policymakers, and researchers have used these tools to move #Mission2030, NGPF's goal to guarantee all high school students in the U.S. will take a personal finance course before graduation by the year 2030, forward.

As of writing, NGPF's Bill Tracker shows 17 state legislatures have introduced 44 bills that would increase access to personal finance education for high school students. In addition, the U.S. House of Representatives has introduced two resolutions that, if enacted, would expand research, resources, or grant opportunities for financial education initiatives federally.

Here are some trends we've encountered while advocating around the country in 2024.

1. State legislative sessions have been like grumpy Chihuahuas this year: fast, furious, and short. This has often meant less than 24 hours' notice for crucial committee hearings, which sharpened our advocacy skills, discipline, and message. More importantly, we were inspired by the passion of personal finance educators, many of whom traveled on short notice to make their voices heard in state legislatures this spring!
2. Yes, there are still 25 states with personal finance course guarantees, the Gold Standard in research-backed financial education policy. Pennsylvania still stands as the latest state to have adopted a personal finance course guarantee, signed into law December 2023. We're not crestfallen by this, though. Advocating for a mission as important as personal finance education takes three things: persistence, persistence, and persistence. Plus, there were a few instances of incremental progress, and a few backwards policies that didn't make it.
3. Speaking of incremental progress, three Governors have signed laws to advance personal finance education beyond its current status in their states.
   1. Maine Governor Janet Mills signed into law an amended bill that directs the Department of Education to study housing personal finance in multiple different departments, which could open flexibility for a research-backed personal finance course guarantee in future years.
   2. New Mexico Governor Michelle Lujan Grisham signed new graduation requirements into law, including two credits that are to be locally determined. NGPF expects many school districts in New Mexico will fulfill one of those local requirements with personal finance, and has committed to accelerate that change.
   3. Oklahoma Governor Kevin Stitt signed amendments to the state's Seal of Personal Financial Literacy. Students will now earn the seal in grades 10-12, when personal finance instruction is most immediately relevant. This is an improvement over the current practice (in some Oklahoma schools) of sprinkling this instruction from grades 7-12. In addition, a separate new law allows Financial Algebra to fulfill a fourth year math credit.

Legislatures aren't the only place for change

As the saying goes, "it takes a village!" While NGPF's affiliate Mission 2030 Fund has built a big record of success in state legislatures - leading campaigns in 30 states, successfully persuading 15 of the most recent 17 states to adopt personal finance course guarantees, and celebrating the amazing milestone of 25 states that have now adopted this policy - we know that legislative interventions are not the only way to make change in education.

Here are 3 states in which advocates (including a fellow you might be familiar with!) are making moves with non-legislative strategies in 2024.

California's Ballot Campaign

Did you know NGPF's co-Founder Tim Ranzetta launched a ballot campaign, Californians for Financial Education, that has already qualified for the November ballot in California after the campaign gathered over 850,000 petition signatures? If voters approve the ballot measure in November, California will guarantee a standalone personal finance course for all high school students, with the guarantee phased in over several years.

Needless to say, this victory would make a massive positive impact on #Mission2030 given California's size.

New York's Blue Ribbon Commission & Board of Regents

New York State Education Department created a Blue Ribbon Commission on Graduation Measures that solicited feedback from stakeholders throughout the state - students, parents, teachers, administrators, community leaders, business leaders, and more - about the changes they would like to see to the state's graduation requirements and Regents exam process.

One of the Blue Ribbon Commission's recommendations was that a credit requirement for personal finance be added to the state's graduation requirements for high school students. The Board of Regents is expected to publicize its decision(s) in late May or early June 2024.

Washington, D.C.'s Office of the State Superintendent

The Office of the State Superintendent (OSSE) and State Board of Education (SBOE) have approved innovative new standards for D.C. high school personal finance education. The intention is that these standards will be taught in a standalone elective course to start. In prior advocacy efforts in several states, we've seen modern standards adoption as a key milestone that eventually leads to personal finance course guarantees.

About the Author

Christian Sherrill

Former teacher, forever financial education nerd. As NGPF's Director of Growth & Advocacy, Christian is laser-focused on our mission to guarantee all students a rigorous personal finance course before crossing the high school graduation stage. Having paid down over $40k in student loans in the span of 3 years - while living in the Bay Area on an entry level teacher's salary - he's eager to help the next generation avoid financial pitfalls one semester at a time.