In 2025, the Ontario government announced long-awaited updates to the Ontario Secondary School Diploma (OSSD), marking the first major overhaul in 25 years. This landmark change represents a significant step forward for financial literacy and life-skills education across the province.
The new requirements will be implemented province-wide in September 2026, with some regions already participating in an early rollout beginning in 2025. Notably, financial literacy will now be introduced as early as Grade 1, ensuring students begin building essential money skills from the very start of their education.
What This Means for Future Homebuyers
A key component of the reform is a new mandatory financial literacy assessment embedded within the Grade 10 mathematics course. To earn their OSSD, students must achieve a minimum score of 70% on this assessment.
This requirement ensures that young Ontarians graduate with practical financial knowledge, including:
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Building and managing a household budget
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Saving for long-term goals, including homeownership
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Understanding credit, borrowing, and interest
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Learning the basics of investing
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Protecting themselves from financial fraud
These are foundational skills every future borrower needs—skills the mortgage and lending industry has long identified as critical. The government’s commitment helps prepare students to navigate an increasingly complex financial and housing landscape with confidence.
Modern Life Skills Returning to Classrooms
In addition to financial literacy, the province is consulting on the return of a modernized home economics program. This program may include practical life skills such as:
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Nutritious cooking
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First aid
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Sewing
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Changing a tire
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Personal responsibility
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Basic economics
Together, these skills aim to strengthen students’ confidence, independence, and readiness for adulthood.
Why This Matters to CMBA Ontario Members
Financial empowerment begins long before an individual applies for a mortgage. By embedding financial literacy from Grade 1 and requiring demonstrated competency by Grade 10, Ontario is fostering a new generation of informed and confident consumers.
This initiative supports:
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Stronger financial decision-making
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Better protection for homebuyers
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A healthier, more sustainable mortgage landscape
These outcomes align closely with the priorities CMBA Ontario continues to champion on behalf of its members and the broader public.
How Financial Literacy Is Being Taught
The province has released a detailed breakdown of what students will learn from Grade 1 through Grade 10, covering everything from early money habits to advanced financial decision-making.
Overview
Students develop the skills and knowledge needed to manage their personal financial well-being with confidence, competence, and awareness of the world around them. Financial literacy goes beyond understanding money—it equips students to make informed, responsible choices throughout their lives.
Learning at Home
Students and parents can access free financial literacy modules that include videos and interactive exercises designed to support conversations about money at home. Topics include:
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Designing a budget
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Understanding different bank accounts and credit cards
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Loans, credit, and investment options
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Protecting personal information and avoiding financial fraud
Classroom Learning
Financial literacy is integrated into the following mandatory courses:
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Mathematics (Grades 1–8)
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Grade 9 Mathematics
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Grade 10 Career Studies
Beginning in September 2026, students must also meet the new financial literacy graduation requirement within their compulsory Grade 10 mathematics course, achieving a minimum score of 70% to earn their high school diploma.