In a landmark decision, the Maine Legislature has passed a new education law that will require high school students to take a personal finance education course in order to graduate. The bill, which was signed into law by Governor Janet Mills on July 9, aims to better prepare students for financial independence and success in the real world.The personal finance education course will cover a range of topics, including budgeting, investing, saving, credit management, and other essential financial skills. Students will learn how to create a budget, manage debt, understand the basics of investing, and make informed financial decisions.Representative Sarah Jenkins, the sponsor of the bill, emphasized the importance of equipping students with the necessary knowledge and skills to navigate the complexities of personal finance. "Financial literacy is a critical life skill that all students should have the opportunity to learn," Jenkins said. "By requiring personal finance education in high school, we can help set students up for success and empower them to make sound financial decisions in the future."The new law will go into effect starting in the 2026-2027 school year, giving schools and educators time to develop and implement the curriculum. Schools will be required to offer the personal finance education course as part of their graduation requirements, ensuring that all students have the opportunity to gain practical financial knowledge before entering adulthood.Supporters of the law believe that it will help address the lack of financial literacy among young people and reduce the prevalence of financial struggles later in life. By providing students with the tools and resources to make informed financial decisions, the hope is that they will be better equipped to achieve financial stability and success in the long run.The passage of this new education law marks a significant step forward in promoting financial literacy and empowering Maine's youth to take control of their financial futures. As the implementation process begins, educators and policymakers are optimistic about the positive impact that this initiative will have on the next generation of Maine residents.