The Ontario Ministry of Education is moving ahead with a new requirement that will see high school students pass a financial literacy test in order to graduate, part of a broader push to equip young people with practical, real-world skills.
Education Minister Paul Calandra says the change is designed to ensure students leave school with a stronger understanding of money management, including budgeting, saving, and financial decision-making.
The test will be tied to the Grade 10 career studies curriculum, rather than math courses, and will require students to achieve a minimum score of 70 per cent.
The province had initially planned to integrate financial literacy more deeply into the math curriculum, but that rollout was paused last year to give educators more time to prepare.
Instead, the standalone test will now serve as a measurable benchmark of student understanding, with learning modules and assessment materials being developed by TVO.
Students who are unsuccessful on their first attempt will be given additional support and the opportunity to rewrite the test.
Officials say the goal is not only to improve financial knowledge, but also to ensure all students have access to the tools they need to navigate increasingly complex economic realities.
The move comes amid growing recognition of the importance of financial literacy, as young people face rising costs of living, student debt, and evolving financial systems. The province says more details on implementation will be shared as the program rolls out.
