SUMMARY OF GRADE
Requires high school financial literacy instruction
Financial literacy standards in most K-8 standards
AN IN-DEPTH LOOK
2017 Nevada Chapter 456 (Senate Bill 249) amended the Nevada high school requirements to add a “one-half unit of credit in economics.” The new requirement is effective July 2022. Nevada has a set of Grades 9-12 Financial Literacy standards in the Nevada Academic Content Standards for Social Studies. There are 13 specific standards with five categories, but it is not clear if the standards are to be mastered in a specific course. “By the conclusion of grade 12, each student will learn to evaluate and assess personal financial literacy skills.” For Grade 9-12: Civics and Economics, there are no personal finance-specific standards.
2017 Chapter 456 also mandates that “The board of trustees of each school district and the governing body of each charter school shall ensure that instruction in financial literacy is provided to pupils enrolled in grades 3 to 12, inclusive, in each public school.” Furthermore, it requires that the financial literacy standards listed in the legislation must be included in the state’s standards and included within courses with relevant standards, as established by the Council to Establish Academic Standards for Public Schools, effective July 1, 2022. There is currently a link for Financial Literacy standards on the State of Nevada Department of Education website, but it states that the webpage is under construction as the “new Financial Literacy standards as required by Senate Bill 249” are being created. Currently, in the Nevada Academic Content Standards for Social Studies, Grades 3, 4, 5, 6-8, and 9-12 have specific Financial Literacy standards. Financial Literacy is one of six content theme standards for the Social Studies standards and has five of its own content themes. These standards were added in December 2017.
Nevada has taken the most recent action regarding financial literacy instruction. Adopted on June 5, 2019, and effective on July 1, 2019, Chapter 326, Senate Bill 314 establishes a State Seal of Financial Literacy to be affixed to the diploma or transcript of students that demonstrate proficiency in financial literacy. The legislation also institutes an annual Financial Literacy Month and a State Financial Literacy Advisory Council.
Nevada receives a “C” for ensuring financial literacy instruction through most of Grades K-12 through social studies and specific high school financial literacy standards. Nevada’s Financial Literacy Month, Financial Literacy Advisory Council, and State Seal of Financial Literacy are all commendable efforts towards increasing financial literacy instruction. In order to receive an “A,” Nevada needs to create standards to ensure there are K-8 standards for each grade and use the high school financial literacy standards to require a stand-alone personal finance course.