In a news release, Ontario has announced plans to strengthen Ontario High School Diplomas.
(Credit: Legislative Assembly of Ontario) Picture of Education Minister Stephen Lecce.
“Too many parents, employers, and students themselves tell me that students are graduating without sufficient financial literacy and basic life skills,” said Stephen Lecce, Minister of Education. “As we go back to basics in the classroom, we will introduce Ontario’s first financial literacy graduation requirement, along with the return of modernized home economics education. By elevating life skills in the classroom, along with better career education and higher math standards for educators, we are setting up every student for life-long success. Our bottom line: ensuring students graduate with practical learning that leads them to better jobs and bigger pay cheques.”
Including financial literacy and home economics requirements, they also plan on making teachers pass a math proficiency test, bringing back student exit surveys, investing $14 million in career coaching, and revitalizing guidance and career services across the province.
“Our government recognizes the need to prepare the next generations of Ontarians with the right tools necessary to help build the best possible financial future for themselves and our whole province,” says Peter Bethlenfalvy, Minister of Finance. “We will not take the well-being of young Ontarians for granted. This is a step in the right direction to ensure our children and grandchildren learn the basics of financial literacy and responsibility that will help them prepare for the future.”
This comes as a 2022 poll by the Royal Bank of Canada showed 83 per cent of young Canadians needed aid in becoming financially literate, and 68 per cent felt overwhelmed for the future.
“Financial literacy is an essential life skill that gives young people the tools they need to plan for the future,” says Goldy Hyder, President and CEO of the Business Council of Canada. “Part of that planning also involves preparing for their careers, so it’s equally important that school counselors work collaboratively with local employers to provide students with the most informed guidance possible.”
The last major overhaul was in 1999, removing grade 13 and introducing community involvement hours.
