Delaware is taking a proactive step towards empowering its high school students with essential financial literacy skills.
The proposed legislation, House Bill No. 203, titled “The Equity and Inclusion in Financial Literacy for All High School Students in Delaware Act,” aims to ensure that all graduating students receive comprehensive financial education.
Spearheaded by multiple sponsors, including Rep. Hilovsky, Rep. Schwartzkopf, Rep. Dorsey Walker, Sen. Hocker, Sen. Mantzavinos, Sen. Pettyjohn, Sen. Pinkney, and Sen. Wilson, this bill highlights the importance of financial literacy in enabling individuals to achieve their full potential in life.
The bill acknowledges that social determinants have often hindered access to financial literacy education for those seeking to improve their financial situation, as well as that of their families and communities. By providing financial literacy coursework to all high school students, Delaware aims to level the playing field and equip its youth with the knowledge and skills necessary for lifelong success the bill reads. The bill recognizes that without mandatory financial literacy education, individuals may experience delays or limitations in achieving their personal aspirations and goals.
Moreover, the bill emphasizes that a financially literate public can serve the greater good and enhance the state’s workforce, competitiveness, and economic development. Recognizing the measurable impact of financial literacy on future success, Delaware lawmakers seek to empower its students and ensure their readiness to navigate the complex financial landscape they will encounter as adults.
The proposed legislation outlines specific provisions to be implemented. Section 1 of the bill amends Title 14 of the Delaware Code, introducing a requirement for high schools to provide a half-credit course on financial literacy. This course must meet the financial literacy standards for high school students adopted by the Department of Education. It covers various essential topics, including behavioral economics, savings and compounding interest, risk assessment and investing strategies, personal budgeting, credit and debt management, financial institutions, taxes, career options, comparative financial systems, philanthropy, and insurance.
To assess the effectiveness of the financial literacy curriculum, the bill mandates the administration of a written financial literacy survey to students at the beginning and end of the course. This evaluation will help measure the impact of the curriculum and identify areas for improvement the bill reads.
School districts and charter schools have flexibility in providing the required course. They can either use an existing course that meets the requirements or develop their own curriculum that aligns with the mandated topics. To ensure accountability and oversight, each school district and charter school must designate an individual responsible for overseeing the implementation of the financial literacy course.
Starting with the 2025-2026 school year, successful completion of the financial literacy course will be a requirement for high school graduation. The bill also emphasizes the importance of including evidence of course completion on student transcripts, indicating the name of the course, the credit received, and its sufficiency as proof of completion.
Additionally, the bill encourages school districts and charter schools to collaborate with private or public enterprises and individuals to enhance the student experience. These partnerships can involve sponsoring competitions, awarding scholarships, providing teacher professional development, or serving as expert presenters in the course.
If passed into law the Department of Education will be required to submit a written report on the implementation of the Act to the Governor, members of the General Assembly, and the Director of the Division of Research by May 1, 2026. The report should include information on the designated individuals overseeing course implementation in each school district and charter school, as well as details on the