Senator Rosilicie Ochoa Bogh (R-Yucaipa) announced that Senate Bill 1147 has passed the Senate Education Committee, marking an important step toward expanding financial literacy education for California high school students.
SB 1147 would allow Local Education Agencies (LEAs) to offer a more comprehensive, year-long personal finance course that can be integrated with subjects such as economics, business, or mathematics. This builds on current law, which limits personal finance instruction to a one-semester standalone course.
“Financial literacy is one of the most important life skills we can give our students,” said Senator Ochoa Bogh. “Young people are entering adulthood facing complex financial decisions, from student loans to credit and saving for the future. We need to make sure they are prepared.”
The bill has already generated significant statewide momentum. To date, over 75 letters of support have been submitted by school districts across California, underscoring broad consensus among educators that this policy will play a critical role in preparing a more financially capable and future-ready generation.
Studies underscore the growing demand for financial education. National surveys show that 83% of adults believe states should require a year-long personal finance course, while 82% of recent graduates say they wish they had been required to take one. Students who do take personal finance courses report strong benefits, including greater confidence in managing their finances.
The impact goes beyond confidence. Research shows a direct link between financial literacy and long-term financial success, with an estimated benefit of roughly $100,000 per student who completes a personal finance course.
SB 1147 addresses a key limitation in existing policy. While California recently enacted a requirement for a one-semester personal finance course beginning in the 2027–28 school year, current rules prevent schools from offering more advanced or integrated courses that could better prepare students for real-world financial challenges.
By allowing a year-long, integrated course, SB 1147 gives schools greater flexibility to provide deeper, more practical instruction. Students will have more time to build and retain critical financial skills, supporting both college readiness and long-term career success.