Celebrating a Milestone in Financial Education
Auditor General Timothy L. DeFoor recently celebrated the successful passage of a pivotal financial literacy mandate for Pennsylvania high school students. This legislative achievement, long championed by Senator Chris Gebhard, introduces a half-credit requirement in personal financial literacy starting in the 2026-2027 school year. DeFoor emphasized that being financially savvy is one of the most crucial skills that students can acquire to ensure their future financial independence and success.
Collaborative Efforts in Curriculum Development
The new law also tasks the Pennsylvania Department of Education with the creation of this curriculum, collaborating with experts in financial education to ensure its effectiveness. Kerry Woodward, the Executive Director at Philadelphia Financial Scholars, expressed the organization’s commitment to providing a dynamic, simulation-rich curriculum and comprehensive professional development for educators. This initiative is expected to empower Pennsylvania students with the knowledge needed to navigate the complexities of personal finance confidently.
Extending Financial Literacy Beyond Legislation
Auditor General DeFoor has been an active proponent of financial literacy through his “Be Money Smart” initiative since 2021, which includes touring the state to promote the importance of financial education and collaborating with various educational and financial organizations. These efforts, combined with the new educational mandate, underscore a significant advancement towards equipping young Pennsylvanians with the financial skills needed to thrive in adulthood. The commitment extends across the state through various partnerships and programs that engage students from elementary levels to college, preparing them for financial challenges ahead.