A survey released last week by the Wisconsin Department of Financial Institutions says 44 percent of all Wisconsin school districts require a course in personal financial literacy in order to graduate from high school, according to a release.
The survey also showed that of those schools districts that do not require a PFL course, 27 percent of them are considering adding the requirement in the near future.
DFI initiated and funded the survey in collaboration with the Department of Public Instruction.
“DFI is committed to assisting the Governor’s Council in fulfilling its mission of measurably improving the financial knowledge of Wisconsin’s citizens, especially our K-12 students,” DFI Secretary Peter Bildsten said in the release.
Bildsten said the survey provides a benchmark to measure the results of DFI’s efforts to promote the integration of personal finance in to schools.
“We intend to move the dial on this important topic,” said Bildsten.
The survey included responses from 415 of Wisconsin’s 424 school districts, officials said.
Survey results showed that 74 percent of districts include PFL content integrated within courses but not a dedicated PFL course and 60 percent of school districts report offering PFL content at grade levels other than high school, according to the release. The survey also found that 89 percent of the districts with a required course have aligned their PFL course to Wisconsin’s Model Academic Standards for Personal Financial Literacy.
“The need to be financially literate has never been more important,” Gov. Scott Walker said in the release. “While more than 40 percent of our school districts are requiring their students to take a PFL course in order to graduate, there is more we can do to teach all Wisconsin young people this important life skill.”
Walker said he encourages educators to do their part to continue to integrate personal financial literacy in to schools.
“Wisconsin led the nation in the development of rigorous standards around personal financial literacy,” State Superintendent Tony Evers said in the release. “It is important that school boards and district leaders continue to expand and enhance opportunities for students to meet these standards, whether it is through a required course, robust elective options and/or integrating this content in grade levels as young as kindergarten.”
For a full recap of the survey, click here.