As she stepped into her first period to take her seat, Oreolewa Adetola called it the most important class she had ever taken.
“When it comes to other classes, we might not need those classes depending on what we do after high school, but this class, I feel like everybody will need it after high school,” she said.
The senior at Northeast High School is talking about her financial literacy course. On the day CBS News Philadelphia was there, teacher Steve Novosel was talking taxes and walking students through how to navigate a W-2 form.
“It’s probably one of the most gratifying experiences I’ve had as a teacher,” Novosel said.
CBS Philadelphia
He started teaching the course three years ago and said he’s already seeing a return on his investment.
“The first year I had one class, the second year I had two, this year I had four,” Novosel said. “Next year I’m going to have a full roster of financial classes. So it’s growing, kids are talking about it, and it’s amazing to teach with them.”
The students start by making vision boards of what they want their life to look like by the time they’re 30 years old. Those posters hang on the ceiling of the classroom. Novosel says students then spend the semester learning the money skills they need to make their vision a reality.
But this is about way more than budgeting. The class starts with lessons on the psychology of money. Then students are taught about saving, investing, building credit, managing debt and how to financially advocate for themselves.
CBS Philadelphia
“A student went to his supervisor and asked for a raise, and got a $4 raise just by speaking up and trying to give credit to his work,” Novosel said. “So all those life lessons that they’re learning now is 10 years ahead of where I was at their age.”
Pennsylvania adding personal finance to graduation requirements
Studies show requiring financial education improves credit scores, lowers loan delinquency rates and reduces the likelihood of falling behind on credit card payments.
But several surveys in recent years also reveal widespread regret among Americans who say they wish they’d learned more about finances growing up. Nationwide, 85% of high schoolers say they want to learn about financial topics, according to business software company Intuit.
As support for financial literacy education has grown, more high schools have begun offering courses on the topic, and soon it will be a graduation requirement for Pennsylvania students.
The Commonwealth is now among 26 states to enact a personal finance requirement, according to Next Gen, a nonprofit that advocates for personal finance education. The law was passed in 2023.
Starting in the 2026-27 school year, Pennsylvania high schools must provide a financial literacy course that students will have to take to graduate.
Similar requirements vary by district in New Jersey and Delaware, according to Next Gen data.
In schools like Northeast High, Philadelphia Financial Scholars has been working to bridge the gap. Since 2016, the nonprofit has partnered with interested schools to provide curriculum and training for teachers like Novosel, for free.
“We’ve taken some teachers who have never thought they would be teaching personal finance,” said Danielle Hernandez, a specialist with the nonprofit who offers guidance to teachers. “We provide them with everything so that all they really need to do is decide what works best for their students.”
Brian Varughese is one of those students. The Northeast senior is headed to Temple in the fall, now with a new major.
“My major is finance, and I chose that because of this class,” he said.
It’s a class these students believe will pay off.
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