SUMMARY OF GRADE
Requires high school economic course, which has financial literacy standards
No K-8 financial literacy standards
AN IN-DEPTH LOOK
The state of New York requires a one-half credit economics course for high school graduation. The recommended course for this requirement, Grade 12: Economics, the Enterprise System, and Finance, has four main standards, and half of the sub-standards under “Individual Responsibility and the Economy” are personal finance concepts. Therefore, each New York student receives some financial literacy instruction through the required high school economics course.
The New York State K-8 Social Studies Framework does not include financial literacy standards. While there are economic standards for each grade, there are no specific personal finance standards, meaning students are not guaranteed any financial literacy instruction until their senior year of high school.
New York receives a “D” in financial literacy instruction, as it does not provide substantial K-12 instruction. New York provides minimal instruction through embedded standards in the required high school economics course. In order to improve its grade and provide instruction from Grades K-12, New York needs to require a stand-alone high school personal finance course and create grade-specific personal finance standards for Grades K-8.