Mandate All Public High Schools In Minnesota To Include A Mandatory Personal Finance Course In Their Curriculum, And

Require That All Minnesota Personal Finance State Standards Be Taught Within This Single Course Instead Of Spread Across

Multiple Social Studies Classes.

 

The purpose of this bill is to prepare students for financial responsibility as adults and to improve their financial

literacy.

 

Currently, less than 30% of U.S. high school students are required to complete and pass a semester of a Personal Finance

course, leaving many young adults unprepared for the financial responsibilities of adulthood. Parents don't want to

discuss financial topics with their children, according to a 2017 T. Rowe Price Survey, "69% of parents have some

reluctance about discussing financial matters with their kids." This means that over half of newly graduated adults

won't have received any thorough financial education. Most college students borrow loans to pay for their tuition, but

without financial education, most won't understand debt, loans, tax, interest, financial aid, credit, credit scores, or

inflation which are crucial to their student loan management. Additionally, Next Gen Personal Finance found that there

is a “lifetime positive benefit of approximately $100,000 per student from guaranteeing that a high school student takes

a one-semester course in personal finance,” this shows another benefit of Personal Finance curriculum, it's proven that

the knowledge gained from this class will help you save and earn more money throughout your entire life. While Minnesota

already includes Personal Finance standards within its statewide social studies standards, these skills are currently

allowed to be taught across multiple courses instead of within a single, dedicated class. This creates inconsistency in

how thoroughly and effectively students receive personal finance instruction. By requiring that these existing Minnesota

personal finance state standards be taught within a single Personal Finance course, this bill ensures a reliable and

understandable learning experience for all Minnesota high school students.

 

“Public high school” shall be defined as any state funded high school within Minnesota teaching grades 9-12.

“Personal finance course” shall be defined as an educational class or course teaching students how to plan and manage

personal financial activities such as income generation, spending, saving, investing, and protection.

“Financial literacy” shall be defined as the ability to understand and manage your money with skills like budgeting,

saving, and investing.

“Curriculum grants” shall be defined as government funded payments to public schools for the purpose of developing class

curriculum and for curriculum resources.

"Minnesota personal finance state standards" shall be defined as the personal finance related requirements already

included within the Minnesota K-12 Academic Standards in Social Studies

 

Funding shall be from the general education aid account within the Minnesota Department of Education, an expected

$1500000 for the first year then an expected $400000 for each year proceeding.

 

Any public school not requiring a personal finance class will lose eligibility to curriculum grants until they meet the

standards.

 

9/1/2026