Under a new law signed by Governor Mike DeWine, high school students in Ohio will not be able to graduate unless they finish a financial literacy course.

Senate Bill 1, introduced by Republican Senators Steve Wilson and Rob McColley, requires students entering 9th grade on or after January 2022 to complete a financial literacy program as an elective or math subject.

All public school students in the state are required to take one half-credit course or a minimum of 60 credit hours in financial literacy. Taxes, interest rates, loans, and other topics will be covered in class. Non-public charter school students are excluded from the new graduation requirement unless they rely on a state subsidy to help them pay for it.

"It is our duty as a state to ensure that our education system prepares Ohio students for success. There are few things that will better prepare someone for success than an understanding of basic financial literacy," McColley said in a statement.