The Ontario government introduced a suite of reforms modernizing the requirements needed for a high school diploma on Thursday morning, representing the first major overhaul of the Ontario Secondary School Diploma since 1999. 

Intending to strengthen the Ontario diploma, the province is introducing several new requirements that align with a back-to-basics agenda, including a new financial literacy graduation requirement to ensure that students graduate with practical financial literacy skills.

The assessment will ensure that students have the skills and knowledge to create and manage a household budget, save for a home, learn to invest wisely and protect themselves from financial fraud. 

Starting in 2025, students will be required to score 70 per cent or higher to meet the financial literacy graduation requirement in their Grade 10 math course. 

The province will also standardize making EQAO Grade 9 Math scores 10 per cent or more of a student's final mark, a practice already used by the majority of teachers.

"Too many parents, employers and students themselves tell me that students are graduating without sufficient financial literacy and basic life skills," said Stephen Lecce, Minister of Education.

"By elevating life skills in the classroom, along with better career education and higher math standards on educators, we are setting up every student for life-long success. Our bottom line: ensuring students graduate with practical learning that leads them to better jobs and bigger paycheques." 

The list of changes also affects new teachers, who will need to hold basic competency in math. Beginning in February 2025, teacher applicants to the Ontario College of Teachers must pass the Math Proficiency Test. 

Students will also receive more modern career education programming in school with added exposure to the skilled trades and priority economic sectors. 

The provincial government is investing up to $14 million in 2024-25 for career coaching for Grade 9 and Grade 10 students in the publicly funded education system. 

This fall, the Ontario government will begin consultations with parents and experts on what practical life skills students should learn in school to build a strong foundation, which can include the mandatory inclusion of life skills like nutritious cooking, changing a tire, sewing a button, using first aid, personal responsibility, and basic economics. 

The last major overhaul of the Ontario Secondary School Diploma was in 1999 with the removal of OAC (Grade 13) and the introduction of community involvement hours.