College Board launches national AP Business with Personal Finance course

The College Board has introduced a new Advanced Placement course called Business with Personal Finance to more than 1,500 high schools across the United States. This is the first year students can enroll in the class. The organization behind the AP program and the SAT created the curriculum in response to student requests for practical job skills.

At Hoover High School near Birmingham, Alabama, the course has already begun. The school has a student body of nearly 3,000 people, making it the largest high school in the state. In one session, students sat in a semicircle with teacher Gerri Kimble to discuss how to handle part-time job earnings. The class covers management and external business factors, including political, economic, social, technological, environmental, and legal elements.

Students in the class are already applying financial concepts to their own lives. Darshan Parmar, a junior, stated he invests his own money in index funds such as the S&P, QQQ, and VOO. He confirmed that he manages the investments himself rather than relying on his parents. Another student reported putting 70 percent of their earnings into a Roth IRA. A third student contributes to a 401(k), while another invests directly in individual stocks.

David Coleman, CEO of the College Board, described business as a constant process of adaptation. He argued that the new course is as important for student preparation as core subjects like math and history. Coleman noted that the pedagogy mixes practical application with theoretical study. He said this approach is highly useful for students today.

The new AP course is distinct from AP Economics, which is already offered at many schools. The Business with Personal Finance class is designed to appeal to students who prefer a practical curriculum. Enrollment in AP classes can lead to college credit upon passing a standardized exam. These credits are typically associated with traditional academic subjects such as English, history, and chemistry.

The introduction of the AP course aligns with a wider trend in American education. Thirty-nine states now require a personal finance class for high school graduation. This number is four higher than it was two years ago, according to the Council for Economic Education. A Federal Reserve paper from previous years found that families in states with financial education mandates made different financial choices during the pandemic. These families were more likely to use stimulus checks to pay down credit card balances and refinance mortgages while interest rates were low.

Jennifer Steele, a professor of education at American University, commented on the trend. She stated that when youth are educated on responsible money use, they demonstrate strong capability in that area. The AP course is part of a broader effort to include more finance-focused curriculum in high schools.

Students at Hoover High School view the course as both challenging and beneficial for their academic records. AP classes often carry more weight in grade point average calculations than standard courses. Damola Kukoyi, a sophomore, said the class helps boost her GPA while allowing her to study a topic she enjoys. The school also offers a four-year business academy with classes in accounting and entrepreneurship.

Rachel Deschaine, a senior in the AP business course, connected the lessons to her personal experience. Her father owned a trucking company, and her brother is studying economics. Deschaine said the class helps her understand how people and companies interact financially. She noted that business knowledge is present in many aspects of life and opens up opportunities for those willing to learn how it works.