On October 9, Delaware Governor Matt Meyer signed HB 203a bill that would require high school students to complete at least a half-credit financial literacy course in order to graduate.
Delaware is the 30th state to require a personal financial literacy course for high school students. By 2030, more than 75 percent of American high school students are guaranteed to take a Personal Finance course.
Representative Jeff Hilovsky (R – Oak Orchard, Long Neck, Angola) was the primary sponsor of the bill, which was also sponsored by a bipartisan group of 17 representatives and senators.
Representative Jeff Hilovsky said, “I believe that passing financial literacy legislation as a graduation requirement for all high school students in Delaware is a big win for students, teachers, families, businesses, the economy, and a big win for Delaware!
The policy will begin with students entering ninth grade in the 2026-2027 school year and will require instruction that aligns with financial literacy standards for grades 9 through 12 adopted by the Delaware Department of Education.
Representative Timothy Dukes said, “Financial literacy is about the impact on our students in Delaware. This is potentially the most important piece of education legislation in our state in the last decade. Dr. Jeff Hilovsky has worked tirelessly to get this legislation passed. Our caucus is grateful that this bill has such tremendous bipartisan support.”
A coalition of educators, students, parents and advocacy groups, including the NGPF Mission 2030 Fund, a subsidiary of Next Gen Personal Finance, defended the bill and testified in support of it.
“This law is a promise to the families of Delaware,” he said Yanely EspinalDirector of Educational Outreach at Next Gen Personal Finance. “By ensuring that every high school student in the state takes a Personal Finance class, they will have the tools to make confident financial decisions no matter what path they choose to take after high school.”
Supporters of the bill include the University of Delaware’s Center for Economic Education and Entrepreneurship (CEEE), the National Endowment for Financial Education (NEFE), and YourMoney101.org.
A partnership between nonprofits, Next Gen Personal Finance and YourMoney101, will provide $50,000 in teacher grants to 100 Delaware educators, directly supporting efforts to expand access to quality financial literacy education statewide.
“There is so much working against today’s young adults—credit card offers at age 18; online gambling at age 21; the ability to spend an entire paycheck and go into debt from your bank; and algorithms designed to separate you from your money,” he said Mark OlazagastiFounder and CEO of YourMoney101.org. “Requiring financial literacy in Delaware high schools is in the best interest of our students and will greatly benefit future generations.”
“Adoption of this graduation requirement is an exciting step toward our shared vision of seeing students graduate as informed, productive citizens – ready to make sound financial decisions that contribute to their own prosperity and the well-being of the world,” said Dr. Carlos J. Asartachairman of the Delaware Council on Economic Education. “We remain committed to helping educators and students with the resources, programs and professional learning necessary to ensure the successful implementation of this requirement.”
Jeffrey Peet, a financial education teacher at Sussex Central High School in Georgetown said, “Every time I tell people what I teach, they respond, ‘I wish I had that class.’ This takes a long time. No more wishes, thanks to the hard work of so many.”
Research shows that students who take a Personal Finance course make better long-term financial decisions and see improvements in credit scores and debt management.
A recent report estimates that this one-semester course could generate lifetime profits of approximately $116,000 per student in Delaware.
NGPF supports more than 132,000 educators nationwide, including more than 650 educators in the state of Delaware, by providing free curriculum and free teacher professional development.
The NGPF Mission 2030 Fund, a nonprofit that advocates for this policy in all states, championed the bill.
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