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  • Significant Accomplishments: Required high school course with financial literacy standards

  • Needs Improvement: Needs to require high school stand-alone personal finance course and implement grade-specific K-8 financial literacy standards


  • 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.

  • In 2021, New York legislators voted to “require that the department of financial services website provide information to enhance consumer financial literacy and consumer awareness which shall include information on basic banking and personal financial management, how credit scores are determined and ways to establish good credit, options for investing and increasing savings, best practices for protecting personal information, and any other topics deemed appropriate by the superintendent” showing some interest in increasing the level of financial literacy of New Yorkers, but no legislation pertaining to K-12 education in personal finance was passed.

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. 

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