The Magnolia State continues to make strides in education, this time in personal finance.
Mississippi is one of seven states to receive an A in the 2023 National Report Card on state efforts to improve financial literacy in high schools. The report was produced by the Center for Financial Literacy at Champlain College in Vermont with the center issuing A grades to states that require personal finance instruction as a graduation requirement.
In an exercise that began in 2022, high school students in the state must take a Mississippi College and Career Readiness (MCCR) course with a financial literacy component to graduate.
The MCCR course was developed to support the vision and mission of the Mississippi Department of Education that all students who graduate from high school are prepared for college, career, and active citizenship.
“This is another big win for education in Mississippi,” Governor Tate Reeves said. “We recognized the importance of personal financial literacy, and that’s why we enacted subject requirements that will better equip students with the life skills they need upon graduation. I’m thankful that this policy is having a positive effect on our state and that its impact is being highlighted in this way.”
The Center for Financial Literacy, established in 2010, is nationally known for its work to increase the financial capability of the nation through its research, advocacy, and financial literacy educator training programs. Previous reports were issued in 2013, 2015, and 2017. Mississippi received a C grade in 2017.
According to the report, “financial literacy is linked to positive outcomes, like wealth accumulation, stock market participation, effective retirement planning, and avoiding high-cost alternative financial services.”
Other states receiving A grades were Alabama, Iowa, Missouri, Tennessee, Utah, and Virginia.
