Bill would require California high school students to take personal finance class

By Lysée Mitri

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    SACRAMENTO, California (KCRA) — A new bill would require California high school students to take one semester of a personal finance class in order to graduate.

Assemblymember Kevin McCarty, D-Sacramento, introduced Assembly Bill 984, which calls for schools to offer a financial literacy course by the 2025-26 school year. It would then be a requirement for students who graduate in 2029 or later.

“A lot of kids don’t always have the information to make sure they make good financial decisions and financial literacy for high school students, I think, is a no-brainer for California,” McCarty said.

It is exciting news for Oak Ridge High School junior Shawn Varshney.

“This is major for us,” he said.

He and his older brother, Sohil Varshney, co-founded a nonprofit called, Financial Literacy for You, in 2018.

“My brother and I co-founded it with the mission of teaching youth about financial literacy,” Shawn said. “These are topics, such as budgeting ranging all the way to investing.”

Shawn was honored for his efforts last April by lawmakers, including McCarty.

Now, he is excited at the prospect of a new law on the issue.

“It’s really gonna help lessen that wealth gap and really give students the resources they need in addition to what we provide for them to be financially successful,” Shawn said.

Currently, 17 states require students to take a personal finance class, according to Next Gen Personal Finance.

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