In recent years, financial education has gained momentum in high schools across Illinois, with educators and nonprofit organizations working to equip students with essential money management skills. One such advocate is Erica Wax, a former bankruptcy attorney who now leads CARE Chicago, a local chapter of a national initiative focused on teaching young people about personal finance. Her experiences in the classroom reflect a growing curiosity among teens eager to understand topics like credit, loans, and budgeting.

The state of Illinois has taken significant steps to integrate financial literacy into its educational framework, recently joining a growing list of states that mandate some form of financial education for high school students. Under new guidelines, this subject is embedded within social science curricula, allowing flexibility in how it’s taught—whether as part of math classes or through dedicated coursework. In 2023, Illinois earned a “B” on a national assessment of financial education standards, signaling progress while highlighting room for improvement.

Chicago Public Schools have implemented a multi-year learning plan called “EmpowerED,” which outlines a comprehensive approach to financial education covering everything from banking and insurance to investing and consumer rights. Additionally, partnerships with institutions like the Chicago Mercantile Exchange are expanding access to practical financial knowledge. Despite these efforts, experts like Vince Shorb of the National Financial Educators Council argue that current programs remain insufficient, urging more immersive and engaging approaches tailored to real-life decisions students will soon face.

Financial education is not just about numbers—it's about empowerment. By arming young adults with the tools to make informed economic choices, society fosters a generation capable of navigating complex financial landscapes with confidence and caution. As Illinois continues to refine its approach, the goal remains clear: to ensure every student graduates with the knowledge necessary to build a secure and responsible financial future.