Money Smarts for Grads: How Schools Are Prepping Teens for Real Life

In many states, high school students must now take a class on money management to graduate. This class covers important topics like saving, credit, debt, budgeting, and spotting scams. Ohio is one of these states, and the rule started for students who began ninth grade in 2022. Across the country, more states are making financial education mandatory. A recent report shows that 73% of high school students will now learn about money before graduation, up from just 9% in 2017. This change reflects the growing recognition that young adults face complex financial decisions as they leave school. In Ohio, lawmakers recently made a small but significant change. Students who work in school-based credit union branches can now earn credit toward their graduation requirement. Some credit unions have been running these branches for years, offering students real-world experience with banking tasks like deposits, withdrawals, and loan payments. This push for financial education is already paying off. For example, twins Derek and Dominik Zirkle used what they learned in their high school finance class to start a honey wine business. They saved money, lived frugally, and reinvested their profits to grow their company. Credit unions like Cardinal also play a big role. They provide students with small amounts of money to practice banking skills in a safe environment. This hands-on experience helps students learn from their mistakes without real-world consequences.