College is the goal, right? The sleepless nights studying, the stressing over SAT scores, and the anticipation of getting acceptance letters is all part of the road to college. But we forgot one thing: college is not cheap; according to a report done by the Education Data Initiative, the average tuition cost is $35,720, which is a 6.8% increase within the last 20 years. These numbers are frightening to countless students in America whose families do not come from wealth. These students are primararly students of color and first-generation immigrant families. Problematically, most students do not have the knowledge or skills of financial literacy, which is an essential part of being a functioning adult.
This issue has been of great concern to MCPS in recent years, so much so that a student-led advocacy group called InnovateX was created. InnovateX is a non-profit organization founded in 2019 by Richard Montgomery High School current senior Katie Yuan. Their mission is to “ increase accessibility to personal finance and entrepreneurship opportunities for [MCPS] students of all socioeconomic backgrounds through advocacy, enrichment programs, workshops, and access to resources.” InnovateX has helped over 1,231 students through their after-school programs and workshops, focusing on financial issues with college applications.
InnovateX’s most recent project is having financial literacy be a high school graduation requirement for all MCPS students. Through the help of the Student Member of the Board, Hana O’Looney, InnovateX was able to reach their goal. They proposed a required .5 credit (one semester) financial literacy course to graduate high school in MCPS, beginning with the Class of 2027. On October 26, 2021, InnovateX fully presented its proposal to the MCPS Board of Education. Yuan was the first student activist to speak to the board. Following her were nine MCPS high school students from eight other schools. All students except Richard Montgomery sophomore Angelina Xu, who attended in person, addressed the board via Zoom. Most of the students who testified will be the first people in their families to attend college, sharing their personal experiences and the necessity of mandating financial literacy for MCPS schools.
On November 9, 2021, the MCPS Board of Education announced that they had passed the resolution for a 0.5 credit financial literacy requirement for graduation, starting with the class of 2027. InnovateX is a prime example of the effectiveness of student advocacy. Through their efforts and constantly advocating for personal finance, they were successful in their goals. We are now able to thank them for the availability of financial literacy classes within the school system. Visit InnovateX for more resources related to financial literacy, more information about the organization, or more ways to support them.
Written by Maru Amtataw of John F. Kennedy High School
Photo courtesy of InnovateX