This year’s freshman class in Alachua County high schools can look forward to graduating with a semester of financial literacy learning under their belts after a state law made the class mandatory in Florida high schools.  

Until now a financial literacy class was available as an elective in some school districts, but Alachua County Public Schools (ACPS) did not have the course in its high schools. 

In 2022, Gov. Ron DeSantis signed into law a mandate that all Florida high school students receive a half-credit personal finance class before graduation. 

The law applies only to the 2023-24 school year’s freshmen and all who come after them, not those who were already enrolled in high school when it was passed. That means school districts across the state can choose what grade level should take the course.  

Alachua County Public Schools chose to save the course until 12^th grade, according to curriculum specialist Jon Rehm. 

“We thought that having a financial literacy course in 12th grade, sort of right before they go out into the real world and will need that information, will be most appropriate for them as far as maturity level, as far as them being able to immediately use it right after graduation,” Rehm said in a phone interview. 

The mandate was the brainchild of the Florida Council on Economic Education (FCEE), but it took inspiration from other states that have passed similar laws and relied on support from legislators such as state Sen. Dorothy Hukill.  

Hukill was an early advocate for getting personal finance into high schools as a required course. She died in 2018, but the bill that passed in 2022 was named in her honor. 

A decade ago, a Florida delegation from the Financial Planning Association (FPA) stumbled upon the FCEE’s effort and joined the push for financial literacy in high schools. Several years ago, their efforts began to pay off as Florida instituted a requirement that all high schools offer personal finance as an elective. 

ACPS chose to allow students to take the course as a virtual elective through Florida Virtual School. 

That was a start, but the organizations kept pushing, according to Charlie Fitzgerald III, principal and financial advisor at Orlando-based Moisand Fitzgerald Tamayo. 

Fitzgerald was also involved with the FPA, and he said the initiative to make the class mandatory was held back by a hesitant Department of Education and teacher’s union, because if students had to add a half-credit to their schedules, they would need to remove another. 

Suzanne Costanza, executive director at FCEE, said band parents were concerned that their children may lose a semester of band and become less competitive for scholarships. Costanza argued that many states are turning toward the model of requiring personal finance in high schools, and as the playing field levels students should not be any less competitive for scholarships because their peers across the country are taking the same half-credit class. 

In 2022, the bill finally made it out of committee. When it came before the Florida House and Senate, both chambers voted unanimously in favor. 

Costanza said she hopes for the class to help prepare students for the real world, increasing their awareness of predatory lending practices and their responsibilities and rights when they take on debt— be it for a credit card, student loans or car loans.  

On a grander scale, Costanza said she hopes credit scores across Florida will improve as students leave high school with smarter lending practices. 

“People want to, naturally, learn about money,” Costanza said in a phone interview. “It’s a pretty easy topic that most people are excited to learn about, especially kids who really don’t have a lot of exposure to this sort of thing.” 

FCEE has already received calls from parents with students taking the elective course, Costanza said. Their students bring home materials and concepts, spreading what they have learned to the whole family. 

Fitzgerald said the course is also important because not every student goes on to college, and they all ought to know the basics of managing their finances. He said starting young gives students a strong advantage. 

“It’s not going to make someone a master of their personal finances,” Fitzgerald said. “But you’re introducing students to the concept of smart decisions around money, the dangers of debt, the importance of saving a little bit and building over time, things like that.” 

The course could also inspire some students to look into financial planning as a career, Fitzgerald said. The age demographics of his profession keep getting older, and he hopes FPA members will be able to partner with teachers to introduce both financial concepts and their career field. 

Fitzgerald said now that the law is in effect and schools are preparing to bring the course into classrooms, the FPA and FCEE have pivoted to helping prepare teachers. He said FCEE will be hosting workshops this summer, as many districts are beginning to roll the course out this fall. He wants to see FPA members across the state reaching out to local teachers and offering themselves as resources. 

Since ACPS chose to make the course a 12^th-grade requirement, the district has a few more years to get everything in order. Rehm said ACPS has been selecting teachers for the course and will offer preparatory training. Most of those selected are already teaching economics. 

“A lot of them already make economics interesting and relevant to their students’ lives through the financial literacy aspects of it,” Rehm said. “This really gives them broader ability to teach the financial literacy aspects of economics. We’ll be able to do it for more time and go deeper into it.”