Advocates press for statewide semester‑long personal finance requirement in Massachusetts high schools

Advocates for financial education asked the Joint Committee on Financial Services to support legislation that would require a semester‑long personal finance course for all Massachusetts public high school students in grades 11–12.

Speakers from the Massachusetts Financial Education Network and related nonprofits described a decade of advocacy and cited public opinion and national research supporting a graduation requirement. Scott Geld, co‑chair of the K‑16 advocacy team for the Financial Empowerment Network, and Dave Florin, co‑chair and long‑time education partner, told the committee that mandated personal finance instruction would place Massachusetts alongside most other states that already have similar graduation requirements.

Why it matters: Proponents argued that early financial education helps young adults understand credit, loans, budgeting and long‑term planning, and they cited surveys showing strong public support for required courses. They described local pilot programs, college and community partnerships, and practical exercises such as “life fair” simulations to prepare students for real‑world decisions.

Details and requests

- The legislation (Senate 752) would direct the Department of Elementary and Secondary Education to adopt regulations requiring a semester of personal finance for grades 11–12 and to support curricular implementation with professional development and community partnerships.

- Advocates cited a National Endowment for Financial Education survey and local program outcomes showing broad support and positive student feedback about mandatory personal finance learning.

- Implementation concerns discussed included scheduling (elective block competition), MCAS testing pressure, teacher training and resource allocation; advocates offered to work with DESE and local districts on roll‑out plans.

Next steps

Committee members expressed support and asked for follow‑up work on implementation details; no vote was taken at the hearing.