Personal Finance 做厙TV FAQ
In November 2024, the Department presented NY Inspires: A Plan to Transform 做厙TV 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, 喧堯梗Department皰roposed the 泭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.泭泭
- How泭is personal finance education defined?泭
For purposes of the泭proposed泭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.泭泭
- What is the difference between泭personal泭finance泭education and泭financial泭literacy?泭泭
Personal finance education is the泭process泭of learning about financial泭topics. Financial literacy is the泭outcome泭of that educationadults and citizens knowledgeable about financial concepts and able to make sound financial decisions泭impacting泭their daily lives.泭
- Why is New York State泭proposing to泭require泭K-12 personal泭finance泭education?泭泭
The 做厙TV (NYSED or the Department) recognizes the importance of泭equipping泭students with the泭financial泭knowledge and skills necessary to navigate the泭complexities泭of the 21st-century泭economy泭and泭make informed decisions that support long-term stability and success.泭Instruction in泭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.泭
As part of Phase 1 of the NY Inspires plan,泭at the November Board of Regents meeting,泭consistent with recommendations of the Blue Ribbon Commission, the Department泭proposed the泭泭to require instruction in personal finance education for all public school students in grades kindergarten (K) through twelve.泭泭
Additionally, at their July 2025 meeting,泭the Board of Regents泭formally adopted the New泭York State Portrait of a Graduate泭(the Portrait).泭Integrating key concepts of personal finance into K-12 educational programs泭provides泭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.泭
- Under the proposed timeline, when will schools泭be required泭to begin providing instruction泭in personal finance?泭泭
If adopted by the Board of Regents, the proposed amendment would泭establish泭a phased implementation timeline for泭personal finance泭instruction across grade bands. The chart below outlines the proposed schedule by which public schools would be expected to begin providing instruction in泭personal finance education, allowing for a multi-year phase-in to support thoughtful planning and alignment with existing instructional programs.泭
School districts are encouraged to begin implementation ahead of the established timelines for each grade band, as readiness and capacity allow.泭泭
|
Middle Grade Band (Grades 58)泭&泭High School Grade Band (Grades 912) |
Elementary Grade Band泭(Grades K4)泭泭 |
|---|---|
|
Beginning with the 20262027 school year泭 |
Beginning with the 2027-2028 school year泭 |
- Will districts泭be required泭to provide instruction in泭personal finance泭education at each grade level泭under the proposed amendment?泭泭
The proposed amendment provides that instruction in泭personal finance泭education must be provided by the end of the last year of each grade band泭 elementary (K-4), middle (5-8), and high school (9-12).泭Specifically:泭
- Elementary school students must receive instruction by the end of grade 4.泭
- Middle school students must receive instruction by the end of grade 8.泭
- High school students must receive instruction by the end of grade 12.泭
While districts泭are required to泭ensure instruction is provided by the end of each grade band, they have flexibility in泭determining泭when and how instruction is delivered within each band. Districts may choose to provide instruction across multiple grade levels or泭concentrate泭instruction泭within a specific year, based on local needs and capacity.泭Districts may, but are not泭required泭to,泭provide instruction on泭personal finance education泭in泭all grade levels within each grade band.泭泭
- What topics should be included in instruction泭on泭personal finance泭education?泭
The Department, in collaboration with an advisory committee of stakeholders with泭expertise泭in personal finance education has泭identified泭five broad topics to be integrated across K-12 instruction:泭
- Budgeting and money management:泭The understanding of how to泭allocate泭ones financial resources to meet life goals.泭
- Credit and debt management:泭The understanding of the role of credit in personal finance and how to avoid泭potential pitfalls of debt.泭
- Earning income:泭The understanding of how income is earned泭and how taxes泭impact泭the money that is taken home.泭泭
- Risk management:泭The understanding that risks are a part of life and strategies to manage that risk, including insurance policies泭
- Saving and investing:泭The understanding of the role of putting money aside to plan for longer-term expenditures.泭
These topics are intended to support developmentally泭appropriate instruction泭that builds student awareness, critical thinking, and civic engagement related to泭personal finance education.泭Objectives for these topics will be developed for the elementary, middle, and high school grade bands to ensure泭a coherent and泭developmentally泭appropriate泭progression泭of learning.泭
- How will NYSED ensure that districts泭are meeting泭the instructional泭requirement泭for泭personal finance泭education?泭
Under the proposed amendment,泭for the泭2026-2027,泭2027-2028,泭and 2028-2029 school years,泭each school district will泭be required泭to泭submit泭verification to the Commissioner of 做厙TV that it has implemented instruction in泭personal泭finance泭education泭within the grade bands prescribed in the regulations. Such verification will be泭submitted泭through the SED Monitoring and Vendor Performance System in the NYSED Business Portal.泭Additional泭guidance and instructions will be shared in future guidance.泭
- How Can School Districts and BOCES泭meet泭the Instructional Requirement in Personal Finance?泭泭
The proposed amendment provides泭districts泭flexibility in local implementation.泭Instruction in泭personal finance泭education can be provided through one or泭all泭of泭the following implementation options:
Embedded Instruction:泭Instruction on泭personal finance泭education is泭intentionally泭integrated into existing subject areas (e.g., science, mathematics, social studies, etc.) within a泭designated泭grade band.泭Students泭must be泭provided with泭meaningful泭opportunities to learn about the泭five泭personal finance泭education泭topics by the end of泭such泭grade泭band.泭Instruction must be delivered by a teacher appropriately certified in the subject area where the embedded instruction is occurring.泭
Stand-Alone Course:泭Instruction on泭personal finance泭education is provided in a dedicated course(s) within a designated grade band. Students must receive泭instruction泭that泭addresses泭the泭five personal finance泭education topics by the end of such泭grade泭band. Instruction must be delivered by a teacher appropriately certified to teach such泭course.泭
Career and Technical 做厙TV泭Programming:泭泭
Instruction泭on personal finance education topics泭may be泭given through泭career and technical education experiences.泭At the middle level grade band,泭students may receive instruction in personal finance through the泭Financial and Consumer Literacy泭module,泭which may be offered泭as part of the泭1.75 unit middle-level CTE requirement.泭At the泭high school level, students may泭receive instruction in personal finance by泭participating泭in NYSED-approved CTE programs泭that泭include泭one泭half unit泭of泭Career and Financial Management.泭A NYSED-approved CTE program is a program developed which meets the guidelines in Part 100.5(d)(7) of Commissioners Regulations.泭泭All泭instruction泭provided through泭this泭option泭must be provided by an appropriately certified CTE teacher.泭
- 泭Do school districts need to泭provide泭all泭implementation options?泭泭
No. The proposed regulation allows for local flexibility in how泭personal finance泭instruction is delivered. Districts are encouraged to泭utilize泭as many of the available options as practical to provide engaging and meaningful instruction in泭personal finance泭education. Each泭option泭holds equal value and may be selected based on local context, resources, and instructional design.泭Some schools may wish to teach stand-alone泭personal finance泭education classes, particularly in the middle or high school grade bands when the content becomes more focused; others may embed泭personal finance泭education instruction in existing courses. Regardless of the implementation泭option泭selected, instruction must:
- Address all泭five personal finance泭education topics.泭
- Be delivered by an appropriately certified teacher.泭
- What support will be provided to teachers and schools?泭
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泭objectives泭for each of the five personal finance topics泭to inform instructional planning. The guidance will be released in the coming months.泭
- Where can泭additional泭information relating to the泭proposed泭instructional requirement for泭personal finance泭education be found?泭
For more information relating to the instructional requirement, please visit the Personal Finance 做厙TV Webpage.泭
- Where can public comment on the proposed amendment be泭submitted?泭
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泭January 19, 2026) and can be submitted to泭REGCOMMENTS@nysed.gov泭and/or mailed to: Dr. Santosha Oliver, Assistant Commissioner, NYS 做厙TV Department, Office of Standards & Instruction, 89 Washington Avenue, Room 860 EBA, Albany, NY 12234.泭
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