Treasurer: Report reveals statewide financial literacy education

Boston Statehouse

A cash transaction at a bank (Nexstar, file)

BOSTON, Mass. (MassGOV)– The State Treasurer’s Office of Economic Empowerment (OEE) has released a report detailing the state of personal financial literacy (PFL) education provided in the Massachusetts public school system. This report found that while personal financial education courses may be available in many Massachusetts high schools (around 85% offer them), their content and scope are highly inconsistent. And furthermore, only a small minority of middle and elementary schools offer any kind of a comprehensive curriculum. 

On Thursday, State Treasurer Deborah Goldberg and OEE hosted a virtual briefing sharing the background and details of the report. The Treasurer discussed the importance of attaining financial knowledge and the state of this type of education in Massachusetts. The OEE staff then presented on the most critical details revealed in the findings. Watch a recording of the event here on the OEE’s YouTube channel

“Requiring that all Massachusetts schools offer financial education courses is a crucial step in building a more equitable future for our children,” said State Treasurer Deborah B. Goldberg. “Now more than ever, access to these tools should be free and easily available to every student in grades K-12.”

In 2015, Treasurer Goldberg created the Massachusetts Financial literacy Task Force. Following the Task Force’s recommendations, OEE created this first-of-its-kind report to map out where Personal Financial Literacy education is and isn’t taught across Massachusetts. 

In order to ensure all students have access to the skills they need, Treasurer Goldberg filed a bill to require that financial education be offered in all Massachusetts schools. The findings in this report underscore the importance of passing legislation such as the Treasurer’s proposal – House Bill 42: An Act requiring financial education in schools. 

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