Require All Minnesota High School Students to Take a Financial Literacy Class During Their Senior Year in Order to

Graduate

 

The purpose of this bill is to require that all Minnesota high school students graduate with the essential financial

skills necessary to make informed decisions regarding personal finance, budgeting, savings, credit, loans, taxes, and

long-term financial planning.

 

Many Minnesota students graduate without the basic financial skills needed to manage budgeting, credit, loans, and

taxes. This lack of preparation leads to higher debt, financial stress, and difficulty making informed decisions after

high school. In 2023 a graduation requirement for personal finance was passed into law. The law requires that all

Minnesota high school students, beginning with the class entering 9th grade in 2024, take a course for credit in

personal finance in order to graduate. Students can take this course in 10th,11th, or 12th grade. However, allowing

students to take the course at any point in high school, may lead to students taking the course too early, and they may

not retain the skills when they are most needed—during the transition to college, work, and independent living. By

requiring all seniors to complete the course during their final year, students can immediately apply these skills as

they prepare to leave high school for college, the workforce, or whatever plans they have after high school. This

ensures that every student leaves high school with practical, up-to-date financial knowledge, encouraging them to make

informed decisions, manage their finances responsibly, and reduce long-term financial risk.

 

Financial Literacy Course - A high school course that teaches students essential personal finance skills, including

budgeting, credit management, loans, taxes, saving, and responsible money management.

Senior Year – The final year of high school (12th grade) in Minnesota High Schools

Student – Any individual enrolled in a Minnesota high school who is in 12th grade and seeking graduation.

Graduation Requirement – A course or credit that a student must successfully complete in order to receive a high school

diploma in Minnesota.

 

The funding would come from the schools general fund budget. Schools are already required to have this course, now it’s

just senior year instead, so there is no additional funding. They can either purchase a curriculum or there are many

free curriculum available online.

 

 

All Minnesota high school students must complete the senior year financial literacy course to graduate. Students who

fail to pass the couse will not graduate. If a school refuses to offer the class they will be fined by the Minnesota

Department of Education.

 

July 1, 2026