Author(s) :

Abigail G. Medin.

Volume/Issue :

Abstract :

This study evaluates the benefits and opportunities of a high school financial literacy course mandate. Growing American credit card debt and personal bankruptcies have demonstrated a need for financial literacy. This knowledge would empower individuals to have better credit management and budgeting practices, more favorable loans/interest rates, and the ability to grow their wealth. An analysis of interest rate distribution, financial literacy surveys, and the success of other financial education methods have shown the potential return and benefits in the long run for high school graduates of just a single semester course. Data from the Brooking Institute and Harvard Business School has proven that financial education taught at a younger age results in greater economic stability. Therefore, students who take a personal finance course will be less reliant on welfare programs and contribute more to society. With the apparent financial disparities in education and wealth across many groups, high school presents a unique opportunity to address most students before their paths diverge effectively.