State Superintendent of Public Instruction Tony Thurmond today announced that he secured an additional $1.4 million in private funding for teachers in California high schools to help deliver financial literacy courses. He was joined in a virtual press conference by Tim Ranzetta, Co-Founder of California-based nonprofit Next Gen Personal Finance (NGPF), who is partnering with the state to provide teacher stipends and professional development for financial literacy. This public–private partnership provides $1.4 million in professional development grants to train high school teachers, enabling them to offer personal finance electives at their high schools, and a district-matching grant program for personal finance specialists.
Research shows that students who have access to high-quality financial education have better financial outcomes as adults, resulting in less debt, and a higher quality of life. According to a NGPF report, while 70 percent of high school students nationwide have access to a personal finance elective or a guaranteed course, only 26 percent in California do. Superintendent Thurmond is working to change that.