Education Secretary Patrick Tutwiler talked to students in Attleboro High School's early education and care program during a tour of the school's career technical programs on Wednesday, Sept. 24, 2025. Photo by Sam Drysdale | State House News Service
Financial literacy programs would be required in every Massachusetts public school system under a statewide graduation standards framework Gov. Maura Healey proposed Monday.
“Massachusetts has always led the way in education, and today represents another step forward on that path,” Healey said in a statement. “I want every parent to know that when your kids go to a Massachusetts school, they are getting the best education that prepares them for success – whether they choose higher education, a trade, skills-based employment or the military. That’s what today is about. I’m grateful to the members of the Graduation Council for their thoughtful work and to the many educators, parents and students who shared their feedback along the way. This work continues.”
Healey’s proposal comes after voters passed a statewide referendum last fall that ended the requirement students pass Massachusetts’ 10th-grade “high-stakes” standardized MCAS test in order to graduate high school.
If Healey’s proposed framework is adopted, students would need to take a standalone financial literacy course, the integration of financial literacy concepts into existing courses, or a way for students to gain financial literacy knowledge and skills through opportunities outside of coursework requirements.
In a statewide survey that garnered 6,615 responses, 93 percent of respondents agreed or strongly agreed that students should complete personal finance coursework, Healey’s office said. This had the highest level of agreement on coursework and learning experiences, followed closely by English and civics.
“A lot of students, once they leave high school, are stranded,” a student at a Holyoke listening session was quoted in the graduation standards proposal as saying. “They don’t have any help or guidance handling bills or working jobs. I think that if there was a class that could support students dealing with financial issues and show them how to build a bank account, etc. I think it’s important.”
Some banks have sought to step into the gap caused by a lack of financial literacy education at many Massachusetts schools, whether as a service to draw more customers or as a target for philanthropy.
In September, over 200 Massachusetts banks jointly backed a bill in the state Legislature that would have made personal finance education a state high school graduation requirement. Mass Bankers, the trade association for the state’s banks, helped coordinate a lobbying effort at the Massachusetts state capital and has also advocated for the bill. State Treasurer Deborah Goldberg had proposed a similar idea in 2021.
In addition to equipping students for the future, advocates say improving financial literacy education can help close racial wealth gaps.
Currently, 30 states require students to complete coursework or demonstrate mastery in financial literacy to graduate high school. fellow New England states, New Hampshire, Connecticut, and Rhode Island already have a financial literacy requirement.
