The Office of the Governor of the State of California

06/27/2024 | Press release | Distributed by Public on 06/27/2024 12:51

California to add financial literacy as a requirement to graduate high school

Jun 27, 2024

California to add financial literacy as a requirement to graduate high school

What you need to know: California is ensuring that all high school students are taught personal financial literacy before graduating after an agreement between state leadership and NGPF Mission 2030, an affiliate of Next Gen Personal Finance was reached.

SACRAMENTO - Governor Gavin Newsom, Senate President pro Tempore Mike McGuire (D-North Coast), Assembly Speaker Robert Rivas (D-Salinas), and a national financial literacy non-profit - NGPF Mission 2030, an affiliate of Next Gen Personal Finance - today announced an agreement to make financial literacy required content to graduate high school.

"We need to help Californians prepare for their financial futures as early as possible. Saving for the future, making investments, and spending wisely are lifelong skills that young adults need to learn before they start their careers, not after."

Governor Gavin Newsom

Senate President pro Tempore Mike McGuire (D-North Coast): "Financial literacy is a critical tool that pays dividends for a lifetime. There's a wealth of data about the benefits of learning these valuable lessons in high school, from improving credit scores and reducing default rates to increasing the likelihood that our future generations will maintain three months of savings for emergencies and have at least one kind of retirement account."

Assembly Speaker Robert Rivas (D-Salinas): "Ensuring our students have the skills and knowledge to thrive is paramount to California's continued success, and financial literacy is a key part of that educational mission. Our agreement is the culmination of many robust and productive conversations with stakeholders across the state on how best to implement financial literacy into every student's high school curriculum."

Tim Ranzetta, co-founder of NGPF and lead proponent of the Californians for Financial Education initiative campaign: "We commend Governor Newsom, Senate President pro Tem McGuire, Speaker Rivas, and the bill's authors and supporters for their leadership and commitment to guaranteeing access to one semester personal finance education for every California student. We look forward to supporting the implementation of this essential course."

This agreement is reflected in AB 2927, sponsored by NGPF Mission 2030, which the Governor will sign. The legislation will require a semester-long personal finance education course available for all California high school students by the 2027-28 school year and make personal finance a graduation requirement starting with the 2030-31 graduating class.

Once the Legislature passes this legislation, proponents of the California Personal Finance Education Act initiative eligible for the November 2024 ballot have agreed to withdraw their measure.

College savings accounts

The financial literacy bill aligns with state efforts to prepare students early on for a healthier financial future. California's CalKIDS program invests $1.9 billion into accounts for low-income school-age children in grades 1-12 and for newborn children born on or after July 1, 2022 - indicating the need for early financial literacy. All families of low-income public school students - 3.4 million across the state - are able to access college savings accounts created in their children's names.

Jun 27, 2024

California to add financial literacy as a requirement to graduate high school

What you need to know: A summary of the news item. Et pharetra pharetra massa massa ultricies mi quis. Morbi quis commodo odio aenean sed. Mauris vitae ultricies leo integer malesuada nunc vel risus commodo. Non pulvinar neque laoreet suspendisse interdum consectetur libero id faucibus. Quis varius quam quisque id diam vel quam.

City name, California - Intro paragraph. Aliquet lectus proin nibh nisl. Facilisi nullam vehicula ipsum a arcu. Non consectetur a erat nam at lectus urna. Ridiculus mus mauris vitae ultricies leo. Blandit turpis cursus in hac. Facilisis mauris sit amet massa vitae tortor condimentum lacinia. Nibh cras pulvinar mattis nunc sed blandit libero volutpat.

A quote from the Governor or someone else. Use sparingly. Et pharetra pharetra massa massa ultricies mi quis. Morbi quis commodo odio aenean sed. Mauris vitae ultricies leo integer malesuada nunc vel risus commodo. Non pulvinar neque laoreet suspendisse interdum consectetur libero id faucibus.
Governor Gavin Newsom

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Quam id leo in vitae turpis massa sed elementum tempus. Tortor dignissim convallis aenean et tortor. Non nisi est sit amet facilisis magna etiam tempor orci. Aliquet risus feugiat in ante metus dictum at tempor commodo. Luctus venenatis lectus magna fringilla urna porttitor.
Urna porttitor rhoncus dolor purus non enim praesent. Ac placerat vestibulum lectus mauris ultrices eros in cursus. Ultricies lacus sed turpis tincidunt id aliquet. Nam at lectus urna duis convallis. Ultricies mi quis hendrerit dolor magna eget est lorem ipsum. Odio facilisis mauris sit amet massa vitae tortor condimentum lacinia. Dolor sit amet consectetur adipiscing elit ut aliquam purus. Habitasse platea dictumst vestibulum rhoncus est pellentesque elit.

newsom-news-template
IMG_3682-min
contact-governor-landing
workers-FxAJ5fkakAAtVI3
priorities-and-progress-image
economy-F-isBKpbsAAxdab
f1A
gun-violence-San Diego Guns Package 2.18.22_2

What they're saying:

  • Sacramento Mayor Darrell Steinberg, original author of the Mental Health Services Act: "Mattis molestie a iaculis at. Sociis natoque penatibus et magnis. Vitae semper quis lectus nulla at volutpat diam. Tellus orci ac auctor augue mauris augue neque gravida in. Aliquet risus feugiat in ante metus dictum. Vulputate sapien nec sagittis aliquam malesuada bibendum. Fusce id velit ut tortor pretium viverra."
  • Senator Susan Eggman (D-Stockton), author of Senate Bill 326: "Eu nisl nunc mi ipsum faucibus vitae aliquet. Consectetur libero id faucibus nisl tincidunt eget nullam non nisi. Commodo ullamcorper a lacus vestibulum sed arcu. Nunc sed augue lacus viverra vitae congue eu consequat. Bibendum ut tristique et egestas. "
  • Assemblymember Jacqui Irwin (D-Thousand Oaks), author of Assembly Bill 531: "Ullamcorper dignissim cras tincidunt lobortis feugiat vivamus at augue. Euismod lacinia at quis risus sed vulputate. Ipsum dolor sit amet consectetur adipiscing elit. Integer enim neque volutpat ac tincidunt."

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Quam id leo in vitae turpis massa sed elementum tempus. Tortor dignissim convallis aenean et tortor. Non nisi est sit amet facilisis magna etiam tempor orci. Aliquet risus feugiat in ante metus dictum at tempor commodo. Luctus venenatis lectus magna fringilla urna porttitor.
Urna porttitor rhoncus dolor purus non enim praesent. Ac placerat vestibulum lectus mauris ultrices eros in cursus. Ultricies lacus sed turpis tincidunt id aliquet. Nam at lectus urna duis convallis. Ultricies mi quis hendrerit dolor magna eget est lorem ipsum. Odio facilisis mauris sit amet massa vitae tortor condimentum lacinia. Dolor sit amet consectetur adipiscing elit ut aliquam purus. Habitasse platea dictumst vestibulum rhoncus est pellentesque elit.