CALIFORNIA – Governor Gavin Newsom announced California will implement a one-semester personal finance course for high school students, aiming to ensure graduates can manage money, avoid debt and build wealth.
The course will begin in 2027–28 and be required for graduation starting with the class of 2030–31.
The move comes as rising student debt and financial illiteracy continue to impact young adults nationwide.
California ranks near the bottom nationally in financial literacy (around 43rd overall). Only about 0.8% of California students currently have access to or are required to take a personal finance course.
By comparison, about 53% of students nationally are required to take personal finance courses.
To close that gap, the State Board of Education adopted a curriculum guide and resources to implement Assembly Bill 2927 (McCarty), signed in 2024.
California’s new personal finance curriculum aims to ensure students graduate with real-world money management skills.
The curriculum guide, developed by the Instructional Quality Commission and adopted by the State Board of Education, includes:
- Banking, saving and avoiding unnecessary fees
- Budgeting and managing everyday expenses
- Credit, debt and credit scores
- Student loans and financing education and careers
- Investing, retirement and wealth-building
- Pathways to college, careers and apprenticeships
- Scholarships, merit aid, student loans, and the CalKIDS program — free college and career savings accounts launched in 2022
CalKIDS program provides students up to $1,500
The financial literacy bill supports ongoing state efforts to prepare students for stronger financial futures.
California launched CalKIDS in 2022 — the nation’s largest college savings program — investing $1.9 billion for low-income students. About 3.4 million students can access accounts with up to $1,500.
A new partnership has already identified 40,000 community college students eligible for more than $20 million in scholarships.
RELATED: $177 Million in CalKIDS Scholarships now available to San Bernardino County students
