A poll taken by Teachers Insurance and Annuity Association of America (TIAA) Institute in 2025 found that only 38% of Gen. Z are considered financially literate, followed by 46% of Millennials; Law AB 2927 is aiming to fix that. Law AB 2927 requires that all California high school students take a personal finance course as part of their graduation requirements. Schools are mandated to offer this course at the beginning of the 2027-28 school year, but it will not be a high school graduation requirement until the 2030-31 school year. The State Board of Education is required to adopt a curriculum guide and resources by May 31, 2026. Social science, Business, Mathematics or Home Economics teachers are going to be responsible for teaching this course.
Senior and ASB finance sector member Isabel Arguelles shares her approval of the new bill. Arguelles believes it will be helpful for students to learn about finances, as she does, so they are more prepared for important future decisions.
“I think [the new bill] is good. It is something basic that you have to know because everyone has to do finances or taxes at one point in their life. It is good material to learn so you are not super lost or oblivious in the future, and so you do not have to rely on anyone else,” Arguelles said.
While a Personal Finance class may not be required until the 2030-2031 school year, incoming juniors and seniors have the option to take Economics. While not identical, the benefits of this class closely mirror those of the future Personal Finance course. In addition to filling the government and economics requirement, AP and IB Economics teacher Elizabeth Palmer explains how the course offers many important skills that are similar to the future Personal Finance class.
“[Economics] is helpful because, first, it is a subject that students have never really been exposed to in all their high school career. Second, it should help students with their perspective in terms of how they view the economy, how they may vote for future politicians and also how they might organize their lifestyle,” Palmer said.
Senior Nicholas Acedo, a student in Palmer’s AP Economics also comments on the importance of classes such as these. He says a personal finance class is important for students’ future decisions. Acedo’s opinion, he says, is heavily influenced by his positive experience in AP Economics.
“It is good because a lot of people, at least our age, do not know what to do with their money or how to spend it. I am in AP Economics and Palmer is a great teacher since I have learned a lot. Economics teaches you how to be responsible, because at the end of the day, money is what keeps you comfortable in life, so it is important you know how to manage it,” Acedo said.
This personal finance course will not only teach students the basics of budgeting but to also make informed choices that could prevent debt traps. IB Diploma Program Coordinator and also IB Computer Science teacher Jared Phelps believes that this law will help students in their long term futures to make more informed decisions.
“The long-term effects of the course are that more students will leave high school with basic financial literacy and be more able to avoid financial distress as they enter adulthood,” Phelps said. “The most important thing we can do for students is to train them to be critical thinkers who can investigate the positive and negative side of options so they are less likely to be taken advantage of.”
This bill will teach students the basics of finance while also preparing them for their future to make decisions that could potentially change the course of their lives. Ultimately, this bill seeks to equip students with essential knowledge of finance which will empower them to make informed decisions and improve their future economic stability. Phelps emphasizes that educating students is the key to success.
“The system we live in is the largest contributing factor to these issues. Educating people will certainly help them not be taken advantage of,” Phelps said.
