This state has the best personal-finance education in the U.S. — you can tell by its average credit score

Tennessee tops the list of U.S. states that provide the best financial education for its residents, according to a new report by financial-services company OneMain Financial. More than 99% of students at public high schools in Tennessee have what’s known as “gold-access” education, attending a school where they are required to take a personal-finance course in order to graduate.

The OneMain Financial report looks at four things for each state: the number of active bills promoting some form of financial education in public schools, the status of economic education in public high schools, the level of personal-finance education offered and required, and the share of high-school students in gold-access schools.

— OneMain Financial’s report on financial literacy “We think that understanding budgeting, saving, loans and credit cards as well as credit scores can set people up for a lifetime of financial well-being,” OneMain Financial said in the report. “So we looked closer at the latest legislation and conversations to gauge how we as a nation are giving people access to financial knowledge.”

Alaska, Wyoming and the District of Columbia do not have any personal-finance education requirements in K-12 schools and haven’t seen any new bills, according to the Council for Economic Education report. California also does not have any such requirements in place, but the state did pass a bill in July to create a statewide task force to look at the issue.

Financial-literacy levels have been “stubbornly resistant to progress,” according to analysts at the Milken Institute, a nonprofit think tank based in Santa Monica, Calif. “This result is particularly worrying for young people, who are likely to face greater financial challenges than previous generations,” researchers concluded in a 2021 report.Over the past two years, the pandemic pushed many states to consider requiring financial-literacy education in schools.

Who creates money 💲 in our nation? Let’s see how many can answer this fundamental question of finance correctly, concisely and completely.

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