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Auditor General DeFoor Applauds Passage of Financial Literacy Education Requirement for PA Students

by Pennsylvania Department of the Auditor General

Auditor General DeFoor Applauds Passage of Financial Literacy Education Requirement for PA Students

On Tuesday, Dec. 19, Auditor General Timothy L. DeFoor applauded the passage of the first-ever financial literacy education requirement for Pennsylvania high school students.

“It has long been a goal of mine to have financial literacy taught in our public schools,” Auditor General DeFoor said. “I want to congratulate Sen. Chris Gebhard for championing this legislation and getting it across the finish line. Knowing how to Be Money Smart is one of the best lessons a student can learn to set themselves up for future financial success.”

Act 35 of 2023 requires all public schools to teach half a credit of personal financial literacy for high school students starting with the 2026-2027 school year.

“In today’s ever-changing landscape, it is crucial that young people enter the world prepared for all facets of daily life, most especially the financial realities of adulthood,” Kasey Roberts, Pennsylvania YMCA Youth and Government Program Director, said. “YMCAs across Pennsylvania serve young people every day, and we are grateful that this issue has been recognized and addressed by our elected officials. We welcome the opportunities this will provide teens across the Commonwealth and look forward to the continued progress towards our common goal.”

The legislation also directs the Department of Education to develop a curriculum for the class, working with organizations specializing in financial literacy education.

“Our commitment to equipping schools with everything they need to provide high-quality financial education to students is unwavering,” Kerry Woodward, Philadelphia Financial Scholars Executive Director, said. “We are ready to continue to deliver and bring simulation-rich curriculum and paid professional development to support teachers in delivering financial empowerment education to students.”

DeFoor has spent the last two years promoting financial literacy across the state as part of his Be Money Smart initiative. Since the initiative launched in 2021, DeFoor has:

For more information on the Department of the Auditor General and the Be Money Smart initiative, visit and follow us on Facebook, Twitter, and LinkedIn.