School curriculum is usually the purview of education experts, but this fall it could be decided by California voters, who will vote on adding a new requirement for high school students: a one-semester class in managing personal finances.is eligible for the November ballot, which would add financial literacy to the list of high school graduation requirements beginning with the class of 2030.
“No one comes out of the womb knowing how to manage their credit score. It has to be taught,” said Tim Ranzetta, co-founder of aand a chief backer of the initiative. “And right now there’s a dramatic gap between what students know and what they need to know. We have to change that.”of adults nationwide showed that nearly 90% support a financial literacy requirement in high school, and nearly as many wished they had taken such a course when they were students.
Polikoff worries that adopting curriculum through ballot initiatives could set a dangerous precedent. Religious or anti-LGBTQ curriculum, for example, could be approved by voters, setting up costly and lengthy legal showdowns with the state Department of Education. “We have these political interests unabashedly trying to control what’s taught in the classroom, instead of leaving it up to teachers and locally elected school boards,” Fuller said. “We should trust those folks to devise thoughtful curriculum that’s appropriate for their students.”
I recognize the value of the process, but it’s slow and so far it hasn’t worked in California. The issue is too urgent and too popular to wait any longer.Ranzetta said the Legislature’s inability to pass a financial literacy curriculum is what spurred him to take the matter directly to voters. That experience inspired him to start NextGen Personal Finance, which offers free financial literacy curriculum and training for teachers. At least 7,000 teachers in California and more than 100,000 nationwide have participated, he said.
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