“Every semester, I hear a lot of kids saying, ‘Please teach me about taxes. Please teach me about things like how to take out student loans,’” Economics teacher Stephanie Cuff-Alvarado said.
The fight for financial education has gained momentum in recent years after economic crises and studies revealed American’s decreasing financial literacy. Without knowing how to budget, manage credit, or save, students can find themselves in financial struggles that last a lifetime.
This summer, Governor Gavin Newsom signed Assembly Bill 2927, which mandates personal finance as a graduation requirement at all California public high schools by 2031 and for the course to be offered as an elective by 2027. This one-semester course would entail lessons on credit, loans, and managing finances.
The prospect of this course coming to high schools excites many students. “Menlo Park is very shielded, so I think it’s very important to manage our finances and be financially responsible after high school. I’d like to learn about investing in stocks and different interest rates,” senior Natalie Shannon said.
Now more than ever, students need to be trained to take on their future. “The economic ground that we’re entering, as young people, is truly harder. The margins are thinner. It’s even more important to start early,” Economics teacher Jack Neumeier said.
Both Cuff-Alvarado and Neumeier said that teaching personal finance could be empowering for many students who may lack a form of financial education at home, and for the general student population seeking advice.
“Personal finance is something that should be taught in the home, but if that’s not available, that’s kind of an equity issue,” Neumeier said.
Despite financial literacy not being included in the state standards, Cuff-Alvarado squeezes it into a small unit towards the end of the year. Many students have come to her directly, asking for more information about personal finance, like how to do taxes and get a bank account.
“It’s something I wish I had as a student,” Cuff-Alvarado said. “I always want to go into it so badly, but part of my job is to follow the state standards. I’ve often felt like I’m not meeting the needs of my students by following the job the state wants me to do.”
Ideally, the new mandate will provide more room and resources to address student needs and curiosity. But, with limited resources and time in the curriculum, squeezing in an entirely new curriculum will be a large undertaking, and it will have to come at the expense of another senior course or be a part of life skills freshman year.
With mounting support from students and teachers, ideally more planning will start sooner rather than later. Right now, plans for a course have yet to come into fruition but the mandate will require M-A to have a finalized plan for 2027.
“I just love seeing education become practical and useful because I think that’s what’s empowering and that’s the point of educating people, so I’m excited,” Cuff-Alvarado said.
