Hundreds of students, state officials, and educators joined State Rep. Jeff Hilovsky on Thursday at Delaware State University as his financial literacy education legislation was ceremonially signed into law by Gov. Matt Meyer.
Three years in the making, House Substitute 1 for House Bill 203 mandates that all Delaware high school students complete a minimum one-half credit course on a broad range of financial concepts as a graduation requirement.
Rep. Hilovsky worked jointly with educators, school administrators, non-profit organizations, and others to build consensus for the mandate and craft a bill that eventually won broad, bipartisan support and passed the General Assembly unanimously.
While some schools in the First State had been educating students on topics such as banking, investing money, and the ability to evaluate the risks and benefits of borrowing, Delaware students were receiving such instruction at rates well below the national average.
Rep. Hilovsky said giving students an understanding of money and financial instruments is critical as they make choices involving higher education, occupations, and student loans–decisions that could have profound impacts on their quality of life as adults.
A 2024 study by the research group, Tyton Partners, found that a one-half credit financial literacy course would generate an estimated $116,000 lifetime benefit to each Delaware student receiving it.
“I’m profoundly grateful to the many supporters who helped transform this legislation into reality,” Rep. Hilovsky said. “Our shared vision will ensure that future Delaware graduates have the practical knowledge they need to make better-informed decisions and improve their opportunities for success.”
The graduation requirement will begin with students entering the 9th grade in the 2026-27 school year.
