Starting in 2025, Ontario high school students will be required to pass exams on managing money and homebuying.

May 31, 2024 TruthUSA

Starting in the 2025-26 school year, Ontario high school students will need to successfully complete a financial literacy test covering topics like budget management and saving for major life milestones such as home ownership.

Education Minister Stephen Lecce announced on May 30 that financial literacy will be integrated into the Grade 10 math curriculum by September 2025.

“Too many young people, despite efforts in our schools, are graduating without essential financial literacy skills,” Mr. Lecce stated during a press conference at the Toronto Stock Exchange.

He emphasized the need to elevate the standard and work collectively to ensure students can apply financial knowledge practically in their daily lives.

The new mandate intends to equip students with the skills to manage their finances to achieve goals like retirement, homeownership, and safeguard themselves against financial scams.

Students in Grade 10 must score at least 70 percent to pass the test.

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The financial literacy assessment will be developed in collaboration with TVO, an online course provider, and the Education Quality and Accountability Office, responsible for standardized tests in reading, writing, and math in Ontario.

The government announced in a press release its commitment to ensuring new teachers have strong math skills. Beginning in February 2025, teacher applicants to the Ontario College of Teachers must pass the Math Proficiency Test, as stated in a press release.

Mr. Lecce also mentioned plans to consult with parents and experts to incorporate practical life skills into the curriculum. This initiative could involve mandatory courses on topics such as cooking, basic household chores, personal finance, and economics.

Moreover, the government will invest up to $14 million in 2024-25 to launch career coaching for Grade 9 and 10 students to support their career exploration, practical skill development, and job search techniques.

These efforts follow recent actions by the Ontario government to address issues like cellphone use and vaping in schools, aligning with their focus on a fundamental education plan.

According to an April 28 press release, schools will enforce a standardized policy requiring cellphones to be silent and out of sight at the start of each class. Failure to comply will result in phone confiscation unless permitted by the educator. Additionally, students in kindergarten to Grade 6 will have restrictions on cellphone use throughout the school day, with usage only allowed with teacher permission.

Schools in Ontario will introduce a uniform policy mandating the immediate surrender of vape, tobacco, and nicotine products. The government will also enhance education on cannabis and vaping in the Health and Physical Education curriculum, alongside a $30 million investment over three years for safety infrastructure like vape detectors in schools.

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