Personal Finance Education FAQ
In November 2024, the Department presented NY Inspires: A Plan to Transform Education in New York State. This plan included a timeline for implementing the four key transformations that established the proposed vision for implementing the recommendations of the Blue Ribbon Commission. As part of Phase 1 of the plan, at the November 2025 Board of Regents meeting, 迟丑别鈥Department鈥痯roposed the 听to require instruction in personal finance education for public school students in grades kindergarten through 12. The following provide questions and answers (Q&A) relating to the proposed amendment. These Q&A are subject to change pending formal adoption of the proposed regulations by the Board of Regents.听听
- How听is personal finance education defined?听
For purposes of the听proposed听instructional requirement, personal finance education is the process of gaining the knowledge, skills, and habits needed to manage money effectively and responsibly across all areas of life. It includes learning how to earn income, budget, spend, save, borrow, invest, manage credit and debt, plan for retirement, and protect against risk with tools like insurance.听听
- What is the difference between听personal听finance听education and听financial听literacy?听听
Personal finance education is the听process听of learning about financial听topics. Financial literacy is the听outcome听of that education鈥攁dults and citizens knowledgeable about financial concepts and able to make sound financial decisions听impacting听their daily lives.听
- Why is New York State听proposing to听require听K-12 personal听finance听education?听听
The 91社区 (91社区 or 鈥渢he Department鈥) recognizes the importance of听equipping听students with the听financial听knowledge and skills necessary to navigate the听complexities听of the 21st-century听economy听and听make informed decisions that support long-term stability and success.听Instruction in听personal finance empowers individuals to set and achieve financial goals, build long-term stability, and make informed decisions that balance personal needs with awareness of broader economic and policy contexts.听
As part of Phase 1 of the NY Inspires plan,听at the November Board of Regents meeting,听consistent with recommendations of the Blue Ribbon Commission, the Department听proposed the听听to require instruction in personal finance education for all public school students in grades kindergarten (K) through twelve.听听
Additionally, at their July 2025 meeting,听the Board of Regents听formally adopted the New听York State Portrait of a Graduate听(the Portrait).听Integrating key concepts of personal finance into K-12 educational programs听provides听a unique opportunity to apply the discipline-specific knowledge and skills in meaningful ways while developing the essential attributes of the Portrait: Academic Preparedness, Creative Innovation, Critical Thinking, Effective Communication, Global Citizenship, and being Reflective and Future Focused.听
- Under the proposed timeline, when will schools听be required听to begin providing instruction听in personal finance?听听
If adopted by the Board of Regents, the proposed amendment would听establish听a phased implementation timeline for听personal finance听instruction across grade bands. The chart below outlines the proposed schedule by which public schools would be expected to begin providing instruction in听personal finance education, allowing for a multi-year phase-in to support thoughtful planning and alignment with existing instructional programs.听
School districts are encouraged to begin implementation ahead of the established timelines for each grade band, as readiness and capacity allow.听听
|
Middle Grade Band (Grades 5鈥8)听&听High School Grade Band (Grades 9鈥12) |
Elementary Grade Band听(Grades K鈥4)听听 |
|---|---|
|
Beginning with the 2026鈥2027 school year听 |
Beginning with the 2027-2028 school year听 |
- Will districts听be required听to provide instruction in听personal finance听education at each grade level听under the proposed amendment?听听
The proposed amendment provides that instruction in听personal finance听education must be provided by the end of the last year of each grade band听鈥 elementary (K-4), middle (5-8), and high school (9-12).听Specifically:听
- Elementary school students must receive instruction by the end of grade 4.听
- Middle school students must receive instruction by the end of grade 8.听
- High school students must receive instruction by the end of grade 12.听
While districts听are required to听ensure instruction is provided by the end of each grade band, they have flexibility in听determining听when and how instruction is delivered within each band. Districts may choose to provide instruction across multiple grade levels or听concentrate听instruction听within a specific year, based on local needs and capacity.听Districts may, but are not听required听to,听provide instruction on听personal finance education听in听all grade levels within each grade band.听听
- What topics should be included in instruction听on听personal finance听education?听
The Department, in collaboration with an advisory committee of stakeholders with听expertise听in personal finance education has听identified听five broad topics to be integrated across K-12 instruction:听
- Budgeting and money management:听The understanding of how to听allocate听one鈥檚 financial resources to meet life goals.听
- Credit and debt management:听The understanding of the role of credit in personal finance and how to avoid听potential pitfalls of debt.听
- Earning income:听The understanding of how income is earned听and how taxes听impact听the money that is taken home.听听
- Risk management:听The understanding that risks are a part of life and strategies to manage that risk, including insurance policies听
- Saving and investing:听The understanding of the role of putting money aside to plan for longer-term expenditures.听
These topics are intended to support developmentally听appropriate instruction听that builds student awareness, critical thinking, and civic engagement related to听personal finance education.听Objectives for these topics will be developed for the elementary, middle, and high school grade bands to ensure听a coherent and听developmentally听appropriate听progression听of learning.听
- How will 91社区 ensure that districts听are meeting听the instructional听requirement听for听personal finance听education?听
Under the proposed amendment,听for the听2026-2027,听2027-2028,听and 2028-2029 school years,听each school district will听be required听to听submit听verification to the Commissioner of Education that it has implemented instruction in听personal听finance听education听within the grade bands prescribed in the regulations. Such verification will be听submitted听through the SED Monitoring and Vendor Performance System in the 91社区 Business Portal.听Additional听guidance and instructions will be shared in future guidance.听
- How Can School Districts and BOCES听meet听the Instructional Requirement in Personal Finance?听听
The proposed amendment provides听districts听flexibility in local implementation.听Instruction in听personal finance听education can be provided through one or听all听of听the following implementation options:
Embedded Instruction:听Instruction on听personal finance听education is听intentionally听integrated into existing subject areas (e.g., science, mathematics, social studies, etc.) within a听designated听grade band.听Students听must be听provided with听meaningful听opportunities to learn about the听five听personal finance听education听topics by the end of听such听grade听band.听Instruction must be delivered by a teacher appropriately certified in the subject area where the embedded instruction is occurring.听
Stand-Alone Course:听Instruction on听personal finance听education is provided in a dedicated course(s) within a designated grade band. Students must receive听instruction听that听addresses听the听five personal finance听education topics by the end of such听grade听band. Instruction must be delivered by a teacher appropriately certified to teach such听course.听
Career and Technical Education听Programming:听听
Instruction听on personal finance education topics听may be听given through听career and technical education experiences.听At the middle level grade band,听students may receive instruction in personal finance through the听Financial and Consumer Literacy听module,听which may be offered听as part of the听1.75 unit middle-level CTE requirement.听At the听high school level, students may听receive instruction in personal finance by听participating听in 91社区-approved CTE programs听that听include听one听half unit听of听Career and Financial Management.听A 91社区-approved CTE program is a program developed which meets the guidelines in Part 100.5(d)(7) of Commissioner鈥檚 Regulations.听听All听instruction听provided through听this听option听must be provided by an appropriately certified CTE teacher.听
- 听Do school districts need to听provide听all听implementation options?听听
No. The proposed regulation allows for local flexibility in how听personal finance听instruction is delivered. Districts are encouraged to听utilize听as many of the available options as practical to provide engaging and meaningful instruction in听personal finance听education. Each听option听holds equal value and may be selected based on local context, resources, and instructional design.听Some schools may wish to teach stand-alone听personal finance听education classes, particularly in the middle or high school grade bands when the content becomes more focused; others may embed听personal finance听education instruction in existing courses. Regardless of the implementation听option听selected, instruction must:
- Address all听five personal finance听education topics.听
- Be delivered by an appropriately certified teacher.听
- What support will be provided to teachers and schools?听
In addition to this FAQ, the Department will develop guidance to further support districts and educators in implementing the proposed instructional requirement. This guidance will include grade-band听objectives听for each of the five personal finance topics听to inform instructional planning. The guidance will be released in the coming months.听
- Where can听additional听information relating to the听proposed听instructional requirement for听personal finance听education be found?听
For more information relating to the instructional requirement, please visit the Personal Finance Education Webpage.听
- Where can public comment on the proposed amendment be听submitted?听
Written comments on the proposed amendment will be accepted for 60-days after its publication in the New York State Register on November 19, 2025 (must be received by听January 19, 2026) and can be submitted to听REGCOMMENTS@nysed.gov听and/or mailed to: Dr. Santosha Oliver, Assistant Commissioner, NYS Education Department, Office of Standards & Instruction, 89 Washington Avenue, Room 860 EBA, Albany, NY 12234.听
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