High schools across the United States are adopting new and innovative approaches to teach personal finance, reflecting a growing focus on financial literacy among policymakers and educators. By 2031, it is projected that 29 states and the District of Columbia will require a personal finance course for high school graduation, impacting over 73% of public high school students, or approximately 11.3 million students. This is a significant increase from 2023, when only 11% of public high school students (1.7 million) were subject to such a requirement.
These mandated courses typically cover essential topics like budgeting, saving, debt management, and investing. Educators are experimenting with interactive methods to provide students with real-world financial experience. For instance, at the Ethel Walker School in Connecticut, students taking a personal finance class in their sophomore year are tasked with directing the school to invest $1,000 from its approximate $44 million endowment into a chosen stock, bond, mutual fund, or exchange-traded fund. Students then track these investments until graduation, with the option to switch if they lose money after a year. The investment returns from the 2025 graduates at Ethel Walker School matched the overall market's 28.3% growth between October 2023 and May 2025, with returns going back into the school's endowment and top performers receiving small prizes.
Beyond investing, some schools are integrating other practical financial skills. Da Vinci Communications in California incorporates personal finance instruction throughout senior year, covering topics such as auto loan risks, health insurance coverage, and saving tactics. This school also requires students to pass the IRS's basic tax-preparer exam by their junior year, enabling them to assist low- and moderate-income families through the IRS's Volunteer Income Tax Assistance program. This initiative at Ethel Walker School alone has generated nearly $1.2 million in tax refunds over six years. Other creative approaches include students creating financial plans for their future selves, simulating rental property ownership, or designing financial plans for imaginary families. These methods aim to foster financial security early in life and encourage financial engagement into adulthood. Many educators, like Chris Hague, a math and personal finance instructor, note that giving students real money to invest encourages deeper research and more risk-averse decision-making.
