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Mr. Schmerelson, Ms. Newbill, Dr. Rivas, Mr. Yang - Incorporating Financial Literacy and Economic Justice into the LAUSD Curriculum (Res-003-25/26) (Noticed August 26, 2025)
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Whereas, The Los Angeles Unified School District (LAUSD or The District) has a responsibility to ensure students are able to meet their life challenges through grade school and beyond;
Whereas, In 2023, the California Department of Education (CDE) reported that only 27 percent of high school students in the state attend a school that offers personal finance courses;
Whereas, In 2023, the California State University (CSU) system approved a rate increase 5 percent every year starting academic year 2023-24 and ending academic year 2028-29 for a total increase of 25% - with undergraduate degrees going from $5,742 to $7,682 per year, graduate degrees from $7,176 to $9,604 per year, and PhDs varying in price but increasing by at least $4,000 per the CSU website - thus increasing the need for borrowing rate for students;
Whereas, Unlawful financial practices burden low-income communities the most and trap families with inescapable debt;
Whereas, Traditionally marginalized communities suffer the most from bank deserts, communities with limited or no banking institutions, that pressure their residents to rely on payday lenders or other companies that offer money loans with high-interest rates;
Whereas, Studies show that the borrowing amount, annual percentage rate, or rejection of a home loan has been historically tied to systemic racism, also known as redlining, resulting in harsher loan terms for minority communities despite having similar financial outcomes as their non-minority counterparts;
Whereas, Traditionally marginalized communities have lower opportunities to establish generational wealth, with Hispanic communities having a median household income of $62,800 and African-American communities holding $52,860 in median household income, below the national med...
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