Researchers say this education is sorely needed. Overall, both young people and those close to retirement in the United States exhibit low levels of financial literacy, said Annamaria Lusardi, university professor of economics and accountancy at George Washington University.
Prince George’s County was the most recent school district in the state to add a graduation requirement after a school board vote in 2020. The school system offers a one-semester course called “Financial Literacy for Teens” that high-schoolers can take at the beginning of their sophomore year, said Susan Bistransin, the school district’s financial literacy coordinator. Next year’s graduating class is the first cohort that will be required to have the course on its transcript.
Montgomery school officials say the requirement has benefits, but are concerned whether it would make graduation tougher for students who are already at a disadvantage, particularly students whose first language isn’t English.staff told board members they were worried about the impact a requirement would have on students who are learning English, based on some challenges to on-time graduation experienced by this student group in Prince George’s.
during a board meeting on the issue last week. “I’m all for monetary literacy, but again, I want us to be cautious. I don’t think there needs to be a rush to make it a graduation requirement.”Instead of a graduation requirement, system staff recommended the district move forward with expanding existing courses that provide financial knowledge to students and
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