The freshman class of 2027 marks the start of a new era for graduation requirements.
Public Act 23-21 legislation was approved in the House of Representatives by a vote of 138 to 12 and in the Senate by a vote of 35 to 1. The Financial Literacy class requirement was passed on July 20, 2023. However, the start of these new requirements brings the question: how will the new class requirements impact the current freshman class and beyond?
Financial literacy will count as an elective or a humanities credit for students to take that doesn’t impact a student’s total existing credits required for the students to graduate, similar to capstone for seniors, yet they still need to have taken it by senior year. Governor Ned Lamont signed a law on July 20th, 2023 that requires students to complete a half-credit course of personal management and financial literacy to graduate.
“I commend Governor Lamont and the General Assembly for their commitment to ensuring that financial literacy continues to be a focus. Access to financial literacy instruction provides students with tools for lifelong financial security, ultimately fostering prosperous families, robust communities, and a strong Connecticut,” Connecticut’s Education Commissioner, Charlene M. Russell-Tucker said.
As stated by The Office of Governor Ned Lamont, the Connecticut State Board of Education is providing a curriculum and resources to help local school boards develop courses in personal management and financial literacy. These courses must have instruction on banking, investing, savings, handling personal finance matters, and the impact of using credit cards and debit cards.
“Personal financial management is one of the most important instructional tools that we can give young people to achieve economic independence and stability throughout their lives. Requiring it to graduate from high school is simply common sense,” Governor Lamont said.
According to Lamont, this course will help give every student a better shot at financial success, particularly those who are not fortunate enough to be given the opportunity or the resources to receive this kind of instruction at home.
In many ways, financial literacy can be as critical as science, reading, and mathematics.
“Learning personal financial management is an important part of growing up and lasts a lifetime. Honing these skills will not only help our young people for years to come as they strive for economic independence but lead to a better Connecticut for everyone,” State Representative, Jonathan Steinberg commented.
The push for financial literacy was a success and greatly benefits the futures of the class of 2027 and beyond allowing the students to learn something that will greatly help them when they enter adulthood. Financial literacy teacher at South Windsor High School, Mr. David Hodge, expressed his satisfaction regarding the new requirement.
“I think it is one of the best discussions that the State of CT Board of Education has ever made. Students always ask why I have to take this class. I’m never going to use this stuff. Well, that wouldn’t be a question when it comes to the financial literacy class. It will be filled with information that students will use throughout their lives,” Hodge said.
An advocate for universal financial literacy classes, Goodwin Tech math teacher, Mrs. Vera Combs, helped to get the ball rolling and finally pushed the need for financial literacy classes in Connecticut high schools.
“No matter what field you’re going into: military, college, trade, business, [etc.]. You always need to be able to manage money. This course prepares students so they do not end up with a huge financial debt that they will have to pay for the rest of their lives,” Combs said.
The financial literacy requirement will help the students learn about budgeting, saving, investing, and responsible credit use. This advancement will push the next generation towards a better future for all.
