Nov 29, 2025 3 min read

McGuffey students got a reality check earlier this month during a financial reality fair.

The event, hosted by two local credit unions, was well worth the hours invested, given the reaction of some of the high-schoolers.

“I didn’t realize how expensive it will be to live on my own and all of the expenses that I’ll have that didn’t occur to me,” said one junior.

“I think budgeting is a really difficult thing to do,” said another.

And then there was this revelation: “I didn’t know it costs this much to eat every month.”

The financial fair drove home another reality: As we prepare our children to live independently as adults, we are overlooking financial literacy as an essential component of their overall education.

But that’s about to change.

Beginning with the 2026-27 school year, high school students will be required to take a personal finance course in order to graduate.

Pennsylvania lawmakers amended the Public School Code in 2023 to require both public and private schools teach the credited course focusing on financial fundamentals of income, spending, saving and investing, risk and insurance, and credit.

State Sen. Chris Gebhard (48th District), the bill’s primary sponsor, said prior to the measure’s enactment, “An alarming number of our high school students are currently entering adulthood and the workforce without an appropriate knowledge of basic financial concepts. I want them to have the best foundation possible as they start their own lives – far too often, the financial decisions our younger generations are making have led to unintended consequences that have put them at an economic disadvantage later in life.”

Those “unintended consequences” have reached an all-time high, according to new data released at the beginning of November by the Federal Reserve Bank of New York. Total household debt hit $18.59 trillion from July through September of this year, an increase of $197 billion from the previous quarter. And student loan debt also reached a record $1.65 trillion. More borrowers are missing payments too, with nearly 10% of all student debt reported 90 days delinquent or more.

Research has shown that many adults lack basic skills when it comes to managing debt, credit, banking and investment. According to a 2023 Pew Research Center survey, about half of U.S. adults said they know a great deal or fair amount about personal finances; 33% knew some, while 13% admitted knowing little or nothing.

Students who take personal finance courses make more thoughtful and well-informed financial decisions that impact career and life choices, studies have shown. They are more likely to apply for financial aid and receive grants and federal aid, pay off credit cards in full each month, and save money, according to the state Department of Education. Ultimately, those who have some financial education accumulate larger retirement funds and assets, the PDE says.

Hopefully, the new curriculum requirement pays off and helps prevent future financial foibles that could trigger a lifetime of regret.

McGuffey senior Aiden Price called the school’s recent immersive financial experience “eye-opening.”

“The fair made me realize that money is really important, and I didn’t realize how expensive it will be to live on my own and all of the expenses that I’ll have that didn’t occur to me. I’m glad McGuffey had this.”

So are we.