Personal Finance Education FAQ
In November 2024, the Department presented NY Inspires: A Plan to Transform Education in 91Ƶ 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, ٳ Department proposed the 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.
- Howis personal finance education defined?
For purposes of theproposedinstructional 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.
- What is the difference betweenpersonalfinanceeducation andfinancialliteracy?
Personal finance education is theprocessof learning about financialtopics. Financial literacy is theoutcomeof that education—adults and citizens knowledgeable about financial concepts and able to make sound financial decisionsimpactingtheir daily lives.
- Why is 91Ƶ Stateproposing torequireK-12 personalfinanceeducation?
The 91Ƶ State Education Department (91Ƶ or “the Department”) recognizes the importance ofequippingstudents with thefinancialknowledge and skills necessary to navigate thecomplexitiesof the 21st-centuryeconomyandmake informed decisions that support long-term stability and success.Instruction inpersonal 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.
As part of Phase 1 of the NY Inspires plan,at the November Board of Regents meeting,consistent with recommendations of the Blue Ribbon Commission, the Departmentproposed theto require instruction in personal finance education for all public school students in grades kindergarten (K) through twelve.
Additionally, at their July 2025 meeting,the Board of Regentsformally adopted the NewYork State Portrait of a Graduate(the Portrait).Integrating key concepts of personal finance into K-12 educational programsprovidesa 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.
- Under the proposed timeline, when will schoolsbe requiredto begin providing instructionin personal finance?
If adopted by the Board of Regents, the proposed amendment wouldestablisha phased implementation timeline forpersonal financeinstruction across grade bands. The chart below outlines the proposed schedule by which public schools would be expected to begin providing instruction inpersonal finance education, allowing for a multi-year phase-in to support thoughtful planning and alignment with existing instructional programs.
School districts are encouraged to begin implementation ahead of the established timelines for each grade band, as readiness and capacity allow.
|
Middle Grade Band (Grades 5–8)&High School Grade Band (Grades 9–12) |
Elementary Grade Band(Grades K–4) |
|---|---|
|
Beginning with the 2026–2027 school year |
Beginning with the 2027-2028 school year |
- Will districtsbe requiredto provide instruction inpersonal financeeducation at each grade levelunder the proposed amendment?
The proposed amendment provides that instruction inpersonal financeeducation must be provided by the end of the last year of each grade band– elementary (K-4), middle (5-8), and high school (9-12).Specifically:
- Elementary school students must receive instruction by the end of grade 4.
- Middle school students must receive instruction by the end of grade 8.
- High school students must receive instruction by the end of grade 12.
While districtsare required toensure instruction is provided by the end of each grade band, they have flexibility indeterminingwhen and how instruction is delivered within each band. Districts may choose to provide instruction across multiple grade levels orconcentrateinstructionwithin a specific year, based on local needs and capacity.Districts may, but are notrequiredto,provide instruction onpersonal finance educationinall grade levels within each grade band.
- What topics should be included in instructiononpersonal financeeducation?
The Department, in collaboration with an advisory committee of stakeholders withexpertisein personal finance education hasidentifiedfive broad topics to be integrated across K-12 instruction:
- Budgeting and money management:The understanding of how toallocateone’s financial resources to meet life goals.
- Credit and debt management:The understanding of the role of credit in personal finance and how to avoidpotential pitfalls of debt.
- Earning income:The understanding of how income is earnedand how taxesimpactthe money that is taken home.
- Risk management:The understanding that risks are a part of life and strategies to manage that risk, including insurance policies
- Saving and investing:The understanding of the role of putting money aside to plan for longer-term expenditures.
These topics are intended to support developmentallyappropriate instructionthat builds student awareness, critical thinking, and civic engagement related topersonal finance education.Objectives for these topics will be developed for the elementary, middle, and high school grade bands to ensurea coherent anddevelopmentallyappropriateprogressionof learning.
- How will 91Ƶ ensure that districtsare meetingthe instructionalrequirementforpersonal financeeducation?
Under the proposed amendment,for the2026-2027,2027-2028,and 2028-2029 school years,each school district willbe requiredtosubmitverification to the Commissioner of Education that it has implemented instruction inpersonalfinanceeducationwithin the grade bands prescribed in the regulations. Such verification will besubmittedthrough the SED Monitoring and Vendor Performance System in the 91Ƶ Business Portal.Additionalguidance and instructions will be shared in future guidance.
- How Can School Districts and BOCESmeetthe Instructional Requirement in Personal Finance?
The proposed amendment providesdistrictsflexibility in local implementation.Instruction inpersonal financeeducation can be provided through one orallofthe following implementation options:
Embedded Instruction:Instruction onpersonal financeeducation isintentionallyintegrated into existing subject areas (e.g., science, mathematics, social studies, etc.) within adesignatedgrade band.Studentsmust beprovided withmeaningfulopportunities to learn about thefivepersonal financeeducationtopics by the end ofsuchgradeband.Instruction must be delivered by a teacher appropriately certified in the subject area where the embedded instruction is occurring.
Stand-Alone Course:Instruction onpersonal financeeducation is provided in a dedicated course(s) within a designated grade band. Students must receiveinstructionthataddressesthefive personal financeeducation topics by the end of suchgradeband. Instruction must be delivered by a teacher appropriately certified to teach suchcourse.
Career and Technical EducationProgramming:
Instructionon personal finance education topicsmay begiven throughcareer and technical education experiences.At the middle level grade band,students may receive instruction in personal finance through theFinancial and Consumer Literacymodule,which may be offeredas part of the1.75 unit middle-level CTE requirement.At thehigh school level, students mayreceive instruction in personal finance byparticipatingin 91Ƶ-approved CTE programsthatincludeonehalf unitofCareer and Financial Management.A 91Ƶ-approved CTE program is a program developed which meets the guidelines in Part 100.5(d)(7) of Commissioner’s Regulations.Allinstructionprovided throughthisoptionmust be provided by an appropriately certified CTE teacher.
- Do school districts need toprovideallimplementation options?
No. The proposed regulation allows for local flexibility in howpersonal financeinstruction is delivered. Districts are encouraged toutilizeas many of the available options as practical to provide engaging and meaningful instruction inpersonal financeeducation. Eachoptionholds equal value and may be selected based on local context, resources, and instructional design.Some schools may wish to teach stand-alonepersonal financeeducation classes, particularly in the middle or high school grade bands when the content becomes more focused; others may embedpersonal financeeducation instruction in existing courses. Regardless of the implementationoptionselected, instruction must:
- Address allfive personal financeeducation topics.
- Be delivered by an appropriately certified teacher.
- What support will be provided to teachers and schools?
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-bandobjectivesfor each of the five personal finance topicsto inform instructional planning. The guidance will be released in the coming months.
- Where canadditionalinformation relating to theproposedinstructional requirement forpersonal financeeducation be found?
For more information relating to the instructional requirement, please visit the Personal Finance Education Webpage.
- Where can public comment on the proposed amendment besubmitted?
Written comments on the proposed amendment will be accepted for 60-days after its publication in the 91Ƶ State Register on November 19, 2025 (must be received byJanuary 19, 2026) and can be submitted toREGCOMMENTS@nysed.govand/or mailed to: Dr. Santosha Oliver, Assistant Commissioner, NYS Education Department, Office of Standards & Instruction, 89 Washington Avenue, Room 860 EBA, Albany, NY 12234.