Sen Bohachek has introduced SB 68 which would require that a personal finance course serve as a substitute for Algebra II where the Indiana State Board of Education has adopted a Core 40 curriculum model that requires Algebra II as a math requirement.
Candidly, I don’t remember Algebra II well enough to know how it differs from Algebra I and, therefore, the utility of adding a personal finance class would exceed whatever is lost by removing an Algebra II requirement. On its face, I guess it doesn’t sound like a horrible idea. But, in my mind, the personal finance requirement conjures up complaints about “kids these days” being frivolous with their money. I’m thinking of those arguments resisting health care reform because Millennials had iPhones and were eating avocado toast. I think personal finance education is a good idea, but it’s nothing like a panacea for the financial challenges people face.
(I’ve suggested in the past that maybe the State could issue “model” budgets for families at various income levels but cynically thought that the idea wouldn’t fly because then the State would have to recognize that most of the things that families “should” be doing simply aren’t possible at some of the income levels that are common in Indiana.)
I also have trouble remembering what made Algebra II have twice the algebra. I’m not sure I get why a personal finance class would be a reasonable substitute, particularly for someone intending to go to college.
That said, I’m (much to my surprise) less cynical than you about the motivation. I’ve had a lot of conversations with my peers over the years who have (at best) a tenuous grasp of budgeting, credit cards, mortgages, taxes, HSAs/FSAs, health insurance options, retirement accounts, etc. There’s a lot that could reasonably be covered in a class. Of course, it might just be 90 days of “don’t buy avocodo toast you damn kids”
My quick Google on the content of Algebra 2 turned up something from Mathplanet. I don’t know if it necessarily tracks with Indiana’s curriculum, but I suspect it probably does:
If kids are learning this but can’t balance a check book or understand things like the present value of money and interest, then I guess I’d agree that personal finance needs to happen. The devil is in the details — Hopefully it wouldn’t be “abstinence only” education for avocado toast.
This change will have very little utility for kids thinking about attending college as most colleges want 4 years of math including a year of Calculus. some will accept other high order math like statistics depending on your career path. To accomplish that kids usually follow this path:
8th grade – Algebra I
9th Grade – Geometry
10th grade – Algebra II
11th grade – Pre-calc (also known as Trigonometry and Analytical Geometry)
12th grade – Calculus AB
Some kids start this cycle in 7th grade and top out at Calculus BC.
If you swap out Algebra II for Personal Finance you are off this track and will have issues getting into a technical/STEM major in college.
Now this is absolutely in line with the state’s efforts to devalue college and push the false narrative that skilled trades will save us all. (Read any of the Michael Hicks analysis/reporting on this and see the fallacy).
If you want Personal Finance in HS curriculum, and I believe there is value, create a high quality semester course that kids can plug in opposite of Health or PE in their schedules.
Personal finance feels in line with home economics and cooking and that sort of thing. I think my kids took a block of those kinds of classes in maybe 9th grade.
The tough thing is personal finance can be an interesting measure of privilege (for lack of a better word) and many times the kids who need it can’t get it through their parents.
Personal finance would be wasted on me (when I was a HS student), my kids, and likely your kids. I had a parent who sat down and walked me through budgets, taxes, mortgages, car loans, credit cards, retirement accounts/savings, etc when I was in HS and college. I am doing the same for my kids.
Lots of my kids’ friends don’t get that support. I do what I can without overstepping, but it is a challenge.
What Paddy said. It’s a fine idea to require the course, but just make there be one less elective.
And if you require it to be taught in cursive … Leising will definitely be on board. Two birds with one stone!
All I remember about Algebra II is getting lost when they tried to teach me about the equation of an arc (or some such blather). That was the end of my math career.