Personal Finance Education FAQ
At their March 2026 meeting, the Board of Regents听approved for permanent adoption听the听听to require instruction in personal finance听education for public school students in grades kindergarten (K) through 12. These regulations become permanently effective on March 25, 2026.听The following provide questions and answers (Q&A) relating to the amendment.听
- How听is personal finance education defined?听
For purposes of the听new 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 requiring K-12 instruction in 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. 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
- When will schools听be required听to begin providing instruction听in personal finance?听听
The amendment establishes a phased implementation timeline for听personal finance听instruction across grade bands. The chart below outlines the schedule by which public schools will 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
Public schools 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&补尘辫;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 public schools be required听to provide instruction in听personal finance听education at each grade level听under the amendment?听听
The 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
For example, fifth and ninth grade students entering the middle and high school grade bands during the 2026-2027 school year must receive instruction in personal finance by the end of those bands.听
While public schools 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. They 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. Public schools 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
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Are students placed by their school district in out of district programs such as BOCES required to receive instruction in personal finance? If yes, who is responsible for ensuring the instructional requirement is met? For example, are BOCES required to include instruction in personal finance education in their respective CTE programs?
In accordance with , school districts are responsible for ensuring that all public school students in grades K-12 within the district, including students placed in out of district programs (e.g., BOCES, approved private schools for students with disabilities, contracts with other districts for special services or programs), receive the required instruction in personal finance within the grade bands prescribed in the regulations. For students attending a BOCES CTE program for part of the school day, such instruction could be provided by the school district and/or as part of the Career and Technical Education (CTE) programming. For students placed outside the district on a full-time basis, there should be ongoing communication and collaboration between the school district and the out of district placement to ensure that students are receiving the required instruction in personal finance education.
- 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. Grade-banded learning objectives for these topics have been developed for the elementary, middle, and high school grade bands to ensure听a coherent and developmentally appropriate progression of learning and can be accessed on the Personal Finance听Topics and Grade Bands webpage.听
- How will 91社区 ensure that districts are meeting the instructional requirement for personal finance education?听
Each year during the phase-in of the new instructional requirements, school districts and charter schools will be required to submit verification to the Commissioner of Education that they have implemented instruction in personal finance education within the grade bands prescribed in the regulations.
For the听2026-2027, 2027-2028, and 2028-2029 school years, each听school district and charter school must submit verification to the Commissioner of Education that it has implemented instruction in personal finance education within the required grade bands.听听
Additionally, as part of the attestation process that will take place at the end of each implementation year, school districts and charter schools who are utilizing the embedded implementation option will be required to specify how they are providing such embedded instruction.听Such verification will be submitted through the SED Monitoring and Vendor Performance System in the 91社区 Business Portal.听Additional guidance and instructions will be shared in future guidance.听
- How can public schools meet听the Instructional Requirement in Personal Finance?听听
The amendment provides flexibility in local implementation.听Instruction in personal finance education can be provided through one or all of the following implementation options:
Embedded Instruction:听Instruction on personal finance education is intentionally integrated into required courses/subject areas (e.g., science, mathematics, social studies, etc.) within a designated grade band.听Students must be provided with meaningful opportunities to learn about the five personal finance education topics by the end of such grade band. 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 personal finance education is provided in a dedicated course(s) within a designated grade band. Students must receive instruction that addresses the five personal finance education topics by the end of such grade band. Instruction must be delivered by a teacher appropriately certified to teach such course.听
Career and Technical Education听Programming:听听
Instruction on personal finance education topics may be given through career and technical education experiences.听At the middle level grade band, students may receive instruction in personal finance through the Financial and Consumer Literacy module, which may be offered as part of the 1.75 unit middle-level CTE requirement.听At the high school level, students may receive instruction in personal finance by participating in 91社区-approved CTE programs that include one half unit of Career and Financial Management.听A 91社区-approved CTE program is a program developed which meets the guidelines in section 100.5(d)(6) of the Commissioner鈥檚 Regulations. Instruction provided through this option must address all of the personal finance topics and be provided by an appropriately certified CTE teacher.听
- 听Do public schools need to provide all implementation options?听听
No. The regulation allows for local flexibility in how personal finance instruction is delivered. Public schools are encouraged to utilize as many of the available options as practical to provide engaging and meaningful instruction in personal finance education. Each option holds equal value and may be selected based on local context, resources, and instructional design.听Some schools may wish to teach stand-alone personal finance education classes, particularly in the middle or high school grade bands when the content becomes more focused; others may embed personal finance education instruction in existing courses. Regardless of the implementation option selected, instruction must:
- Address all five personal finance 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 has developed guidance and resources to further support public schools and educators in implementing the instructional requirement. Please visit the Personal Finance Guidance & Resources page for more information. For questions or more information, please contact the Office of Standards & Instruction at P12standardsinstruction@nysed.gov.
- Where can听additional听information relating to the 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