Finance
Mahopac to require personal financial literacy for high school graduation. Will NY follow?
Rockland County’s London Crooks starts financial literacy class
Vivian London-Crooks teaches financial literacy to a group of students during her 4-week summer class at the Berea 7th Day Adventist Church in Nyack July 11, 2019. London is an accountant with 20 years of experience.
Carucha L. Meuse, cmeuse@lohud.com
Mahopac School District has become the first in New York to make personal financial literacy a graduation requirement, following a statewide push to strengthen personal financial education, according to the district.
The initiative, adopted by the Mahopac School Board on Nov. 18, aligns with a recent state Education Department proposal that would require personal finance instruction for all K-12 public school students.
Under the program, Seal of Financial Literacy, Mahopac students beginning with the Class of 2028 must complete a series of courses and a capstone project to graduate.
The goal is to equip students with essential life skills at a time when financial decisions are increasingly complex and the cost of living continues to rise, Mahopac School District interim Superintendent Frank Miele said in a statement.
“Learning about money is the path to success for every student,” said Miele. “When our students understand saving, spending, investing, managing credit, and planning for their futures, we empower them to step into adulthood with confidence.”
What’s included in the Seal of Financial Literacy?
Starting with the Class of 2028, Mahopac graduates will be required to earn the Seal of Financial Literacy to receive their diplomas. Students in grades 8-12 will learn personal finance concepts through integrated units in courses such as English, math, social studies and economics. Seniors will complete a capstone project in which they develop a personal financial plan based on a post-high school scenario, whether attending college, entering the workforce, starting a business or serving in the miliary.
“It’s not radical for an 18-year-old to think about their long-term career goals and retirement plan,” said Tanner McCracken, a Mahopac School Board trustee who spearheaded the initiative. “Making personal financial literacy a graduation requirement has been a dream of mine since I was first elected to the school board at 20 years old. It’s something my generation is eager to learn, and I’m proud we got it done.”
More than 475 students in the Class of 2026 and 2027 will qualify for the program before it becomes a universal requirement in 2028, according to McCracken.
Local initiative precedes proposed statewide financial literacy mandate
Mahopac’s move comes as the state Education Department is considering adding personal finance education to graduation requirements.
Under the proposal, personal finance instruction would be required in middle and high schools starting in 2026-27 school year and expanded to elementary schools in 2027.
Schools would have flexibility to teach the material through integrated coursework, stand-alone classes or career and technical education programs. Instructional topics include budgeting and money management, credit and debt management, earning income, risk management and saving and investing.
The proposal is currently open for public comment through Jan. 19, with the Board of Regents expected to make a decision in March.
Helu Wang covers economic growth, real estate and education for The Journal News/lohud and USA Today Network. Reach her at hwang@gannett.com and follow her @helu.wangny on Instagram.