A ledger being balanced. the fundamentals of obtaining a firm mortgage the effects of a loan.
These don’t sound like exciting concepts to the typical high school student. And they don’t get much more exciting as adults. But they are necessary. Additionally, state politicians want all high school students to be able to enroll in a financial principles course.
The Pennsylvania federal education bill, Senate Bill 843, which was approved last week, includes a clause stating that high schools may offer an independent personal finance course.
According to Franklin Regional School District Superintendent Gennaro Piraino, “I think it’s a wonderful idea.” “We offer a personal finance training, and we’re currently looking into various locations where we can incorporate it into our curricula.” We have some business programs, and we’re considering including some of these in our high school community and customer science programs.
According to the volunteer Next Gen Personal Finance, Pennsylvania is the 25th condition to ensure access to basic economic schooling literacy.
The classic act was sponsored by State Sen. Chris Gebhard, R-Lebanon County.
According to Gebhard, “an alarming amount of our high school students are now entering age and the labor without an appropriate understanding of fundamental fiscal concepts.” The economic judgments our younger years are making have far too frequently resulted in unexpected consequences that have put them at an economical risk later in life, so I want them to own the best foundation possible as they start their own lifestyles.
2019 saw Colten Oakes of Murrysville graduate from Franklin Regional. He claimed that his relatives provided the majority of his initial financial management advice and that he did not enroll in a specific fund course.
During my day at Point Park University, he admitted, “I did get a few lessons like that.” “I did come out with a better knowledge of loan and how to handle it, and it did feel very beneficial.”
The Department of Education, which will work with experts and educators to promote high-quality training materials and design curriculum, will provide resources and training to Pennsylvania college districts to successfully implement the course.
The course necessity may take effect in the 2026–2027 academic year. Budgeting, saving, credit management, investing, mortgages, interest charges, and other basic financial principles would all be covered.
Joanne McClellan, a professor at Monessen High School, is occupied with introducing her second school of juniors to those ideas. This year, the city added a financial education course to the 11th class syllabus.
According to McClellan, “Every class should provide it.” I had no notion what I was getting myself into when I graduated from high school.
Even with students who hadn’t typically engage then, she claimed that conversations with them have sparked a lot of inquiries and interest.
Many children were unaware that, despite being paid $15 per hour, you weren’t really receiving that much after deductions, she claimed. “We discussed work rules.” Some of my students discovered they had been asked to work when they weren’t supposed to.
Before a new class of students enrolls, McClellan’s group will wrap up the semester-long course by talking about income taxes and the effects of big purchases like cars and homes.
Piraino remarked, “I definitely think it’s a good thing.” It won’t solve all of our financial literacy issues, but at least students will have a basic understanding of things like filling out checks, the true cost of items like cars, or what is the actual long-term impact of if I take out an interest-bearing mortgage for 30 years.
Staff poet for the Tribune-Review is Patrick Varine. Patrick can be reached via Twitter or message at [email protected].