I’ve been disappointed to discover House Bill 203 being opposed as a lifelong Delawarean and long-time supporter of financial education. The main concern? The alleged financial benefits of incorporating specific financing into our institutions. But let’s take a closer look at the claims.
Some believe that the need to hire or resign teachers, purchase new education materials, and potential disruption to existing schedules may strain college budgets. I’m here to refute this theory and highlight the success of resources Delaware teachers can access for free.
Comprehensive professional development programs like “Keys to Financial Success” and “Fundamentals of Financial Literacy” are offered by centers like the University of Delaware’s Center for Economic Education and Entrepreneurship (CEEE). All while offering stipends and continued assistance, these programs provide educators with the education and curriculum materials necessary to effectively teach personal finance. Also, 24 of the 25 states have passed comparable policy without a financial word, which indicates that a financial literacy training program is already in place without considerable financial costs.
The CEEE’s fellowships are intended to ease the financial strain on educators and encourage their participation in professional advancement opportunities. For example, the “Keys to Financial Success” program offers a $250 stipend to Delaware teachers who complete the required training sessions. The CEEE even covers the cost of substitutes so teachers may attend in-person coaching sessions without impacting their regular duties, an annual meeting, carpool services, meals, and more, free of charge.
Furthermore, national organizations like Next Gen Personal Finance (NGPF.org) provide additional support through certification courses, on-demand modules, and live virtual professional development sessions.
Teachers participating in NGPF’s programs may also be eligible for stipends, with $500 stipends awarded to those who complete 20 hours of professional development. To date, over 140 Delaware high school teachers have been trained through the CEEE and NGPF programs.
To ensure that all students have access to financial education in an equitable manner, a required course is necessary. Without a requirement, the standalone high school course on personal finance has a zip code implementation, leaving the less fortunate with no room for improvement. Additionally, according to the Tyton Partners 2024 Investing in Tomorrow study, Delaware’s public high school financial education program’s total lifetime benefit is estimated to be $116,000. This demonstrates how significant a long-term investment in financial literacy education is for our students.
Finally, scheduling difficulties and a lack of flexibility are systemic problems unrelated to the advantages of teaching personal finance to students in high school. It’s time to prioritize what is best for our students and their long-term financial well-being.
How can educators from Delaware high schools teach a semester course on personal finance for free? The solution lies in utilizing these invaluable resources and giving teachers more options.
Join us in supporting House Bill 203 and ensuring that every Delaware student has access to essential financial instruction. Visit www.HouseBill203.org today to contact your legislators, sign the petition, and learn more about this important legislation and why it matters.
Mark Olazagasti is the Founder & CEO of YourMoney101, former managing partner at Info Solutions, and former.org.