Senator Rosilicie Ochoa Bogh announced on May 5 that Senate Bill 1147 has passed the Senate Education Committee, moving forward efforts to expand financial literacy education for California high school students.
The bill is significant because it would allow Local Education Agencies to offer a year-long personal finance course that can be integrated with subjects such as economics, business, or mathematics. Currently, state law only permits personal finance instruction as a one-semester standalone course.
“Financial literacy is one of the most important life skills we can give our students,” said Senator Ochoa Bogh. “Young people are entering adulthood facing complex financial decisions, from student loans to credit and saving for the future. We need to make sure they are prepared.”
According to Ochoa Bogh’s office, more than 75 letters of support have been submitted by school districts across California. This response suggests broad agreement among educators about the importance of expanded financial education in preparing students for their futures.
National surveys referenced by the senator show that a large majority of adults—83 percent—believe states should require a year-long personal finance course, while 82 percent of recent graduates wish they had taken such a class. Students who do take these courses report increased confidence in managing their finances and research indicates an estimated benefit of about $100,000 per student who completes a personal finance course.
California recently enacted a requirement for all high schoolers to take at least one semester of personal finance beginning in the 2027–28 school year. However, current rules prevent schools from offering more advanced or integrated courses. SB 1147 aims to address this gap by giving schools flexibility for deeper and more practical instruction.
Looking ahead, supporters say allowing longer and integrated courses will help students build lasting skills needed for college readiness and long-term career success.
