MELLEN, WI. (Northern Today Now) – A new Wisconsin law will require all high school students to graduate in 2028.
Mellen High School has already made it their mission to put their students on track for financial success.
Steve Eder, a business teacher at Mellen, understands the hard conversation finances can be. He says he wants to teach his students the importance of knowing how to handle such a huge responsibility through the courses he teaches.
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“If our financial health isn’t good,” said Eder. “Chances are it’s gonna impact other areas of our lives that are going to cause some issues.”
According to the new law, a student must earn at least one and a half credits of personal financial literacy to graduate high school. Those courses may include, money management, saving and investing, and risk management.
Eder teaches multiple classes that covers over 12 units for the entire semester with topics ranging from insurance, credit cards, and financial aid for college.
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One of his classes walks students through a major aspect of their after-school life, taxes.
“They’ve actually brought in their tax information and we’ve filled out tax forms,” said Eder. “We use their tax forms in class so that they can get a refund as a part of the tax unit.”
University of Minnesota-Duluth Finance Professor, Timothy Peterson, agrees with Wisconsin’s new bill. He believes with new technology comes more financial issues.
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“There isn’t a day that doesn’t go by that were not using a credit card or a debit card or paying for something with cash or check,” said Peterson.
Although Peterson teaches at a college level, he thinks it’s important for high schoolers to have that knowledge as early as possible.
“But to get them in a mindset and to develop good financial habits,” said Peterson.
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