At Miami’s Coral Reef Senior High, 17-year-old Gabriela Martinez carefully enters figures into a spreadsheet as her financial literacy teacher explains how compound interest works. The half-credit course, which became mandatory for Florida high schoolers last year, has already changed how she thinks about money.
“Before this class, I never understood what a Roth IRA was or why saving early matters,” Martinez says. “Now I’m actually putting away part of my weekend job earnings and talking to my parents about college costs.”
Stories like Martinez’s are becoming increasingly common across Florida following the state’s implementation of financial literacy requirements for high school students. The mandate, which began with the 2022-2023 academic year, has transformed how teenagers approach financial decisions in a state where economic opportunities and challenges both run high.
The Florida Financial Literacy Initiative requires all public high school students to complete a dedicated financial literacy course before graduation. For students entering ninth grade in the 2023-2024 school year and beyond, this half-credit course replaces a previously required elective.
“We’re seeing tremendous early results,” says Maria Hernandez, curriculum director for Miami-Dade County Public Schools. “Students are developing critical financial skills that will serve them throughout their lives, from creating realistic budgets to understanding credit scores.”
The required curriculum covers essential money management fundamentals: banking basics, credit card interest, loan applications, insurance policies, taxes, and investment strategies. Notably, the program emphasizes practical skills over abstract concepts, focusing on real-world applications students will face after graduation.
A preliminary survey conducted by the Florida Department of Education found that 78% of students who completed the course reported feeling more confident about making financial decisions. Additionally, 65% indicated they had started saving money or increased their savings rate after taking the class.
These early positive indicators align with research from the Financial Industry Regulatory Authority (FINRA), which shows that financial education requirements correlate with higher credit scores and lower delinquency rates among young adults.
“Financial literacy is truly a life skill,” says Thomas Reynolds, who teaches the course at Gainesville High School. “I’ve had students come back to tell me they avoided payday loans or negotiated better car deals because of what they learned.”
Florida’s program arrives amid growing national concern about young Americans’ financial preparedness. According to a 2023 study from the Federal Reserve, only 34% of Americans aged 18-24 could correctly answer basic questions about interest rates, inflation, and risk diversification.
The state’s initiative addresses this knowledge gap through a combination of classroom instruction, guest speakers from financial institutions, and simulation-based learning where students practice making financial decisions in controlled environments.
“We create scenarios where students have to manage unexpected expenses or plan for major purchases,” explains Jasmine Williams, a financial literacy teacher at Orlando’s Oak Ridge High School. “They quickly learn that financial stability requires planning and discipline.”
Not everyone initially supported the mandate. Some educators worried about fitting another requirement into already packed schedules, while others questioned whether it would reduce elective options that students enjoy.
However, most concerns have diminished as implementation has progressed. School districts report successful integration of the material, with many teachers receiving specialized training through partnerships with financial institutions and nonprofits.
“We’ve made this work by providing comprehensive teacher support,” says Florida Education Commissioner Manny Diaz Jr. “Quality instruction makes all the difference in students’ engagement and retention of these critical concepts.”
Parents have emerged as strong supporters of the program. A recent Florida PTA survey found that 89% of parents believe financial literacy education will benefit their children’s future.
“I wish I’d had this when I was in school,” says Orlando parent Darius Johnson. “My daughter is already helping me review our family budget and asking smart questions about our insurance coverage.”
The financial services industry has also embraced the initiative. Several Florida banks and credit unions have developed partnerships with schools, providing guest speakers, field trips, and starter savings accounts for students.
“We see this as an investment in our future customers and in Florida’s economic health,” explains Jennifer Morris, community outreach director for First Florida Credit Union. “Financially literate young people make better clients and contribute more to economic stability.”
As the program continues to develop, educators are focused on ensuring equal quality of instruction across districts and measuring long-term impacts. The state plans comprehensive assessments to track how financial literacy education affects students’ post-graduation financial behaviors.
For students like Coral Reef’s Gabriela Martinez, the benefits are already clear: “This might be the most useful class I’ve taken. Math and history are important, but this is teaching me how to actually manage my life.”
