Personal Finance Education FAQ
In November 2024, the Department presented NY Inspires: A Plan to Transform Education 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, the Department proposed the amendment of section 100.2(c) of the Regulations of the Commissioner of Education 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.
1. How is personal finance education defined?
For purposes of the proposed 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.
2. What is the difference between personal finance education and financial literacy?
Personal finance education is the process of learning about financial topics. Financial literacy is the outcome of that education—adults and citizens knowledgeable about financial concepts and able to make sound financial decisions impacting their daily lives.
3. Why is New York State proposing to require K-12 personal finance education?
The New York State Education Department (NYSED or “the Department”) recognizes the importance of equipping students with the financial knowledge and skills necessary to navigate the complexities of the 21st-century economy and make informed decisions that support long-term stability and success. Instruction in 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.
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 Department proposed the amendment of section 100.2(c) of the Regulations of the Commissioner of Education to 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 Regents formally adopted the New York State Portrait of a Graduate (the Portrait). Integrating key concepts of personal finance into K-12 educational programs provides 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.
4. Under the proposed timeline, when will schools be required to begin providing instruction in personal finance?
If adopted by the Board of Regents, the proposed amendment would establish a phased implementation timeline for personal finance instruction across grade bands. The chart below outlines the proposed schedule by which public schools would be expected to begin providing instruction in personal 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 |
5. Will districts be required to provide instruction in personal finance education at each grade level under the proposed amendment?
The proposed amendment provides that instruction in personal finance education 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 districts are required to ensure instruction is provided by the end of each grade band, they have flexibility in determining when and how instruction is delivered within each band. Districts may choose to provide instruction across multiple grade levels or concentrate instruction within a specific year, based on local needs and capacity. Districts may, but are not required to, provide instruction on personal finance education in all grade levels within each grade band.
6. What topics should be included in instruction on personal finance education?
The Department, in collaboration with an advisory committee of stakeholders with expertise in personal finance education has identified five broad topics to be integrated across K-12 instruction:
- Budgeting and money management: The understanding of how to allocate one’s financial resources to meet life goals.
- Credit and debt management: The understanding of the role of credit in personal finance and how to avoid potential pitfalls of debt.
- Earning income: The understanding of how income is earned and how taxes impact the 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 developmentally appropriate instruction that builds student awareness, critical thinking, and civic engagement related to personal finance education. Objectives for these topics will be developed for the elementary, middle, and high school grade bands to ensure a coherent and developmentally appropriate progression of learning.
7. How will NYSED ensure that districts are meeting the instructional requirement for personal finance education?
Under the proposed amendment, for the 2026-2027, 2027-2028, and 2028-2029 school years, each school district will be required to submit verification to the Commissioner of Education that it has implemented instruction in personal finance education within the grade bands prescribed in the regulations. Such verification will be submitted through the SED Monitoring and Vendor Performance System in the NYSED Business Portal. Additional guidance and instructions will be shared in future guidance.
8. How Can School Districts and BOCES meet the Instructional Requirement in Personal Finance?
The proposed amendment provides districts flexibility in local implementation. Instruction in personal finance education can be provided through one or all of the following implementation options:
Embedded Instruction: Instruction on personal finance education is intentionally integrated into existing subject areas (e.g., science, mathematics, social studies, etc.) within a designated grade band. Students must be provided with meaningful opportunities to learn about the five personal finance education topics by the end of such grade band. Instruction must be delivered by a teacher appropriately certified in the subject area where the embedded instruction is occurring.
Stand-Alone Course: Instruction on personal finance education is provided in a dedicated course(s) within a designated grade band. Students must receive instruction that addresses the five personal finance education topics by the end of such grade band. Instruction must be delivered by a teacher appropriately certified to teach such course.
Career and Technical Education Programming:
Instruction on personal finance education topics may be given through career and technical education experiences. At the middle level grade band, students may receive instruction in personal finance through the Financial and Consumer Literacy module, which may be offered as part of the 1.75 unit middle-level CTE requirement. At the high school level, students may receive instruction in personal finance by participating in NYSED-approved CTE programs that include one half unit of Career and Financial Management. A NYSED-approved CTE program is a program developed which meets the guidelines in Part 100.5(d)(7) of Commissioner’s Regulations. All instruction provided through this option must be provided by an appropriately certified CTE teacher.
9. Do school districts need to provide all implementation options?
No. The proposed regulation allows for local flexibility in how personal finance instruction is delivered. Districts are encouraged to utilize as many of the available options as practical to provide engaging and meaningful instruction in personal finance education. Each option holds equal value and may be selected based on local context, resources, and instructional design. Some schools may wish to teach stand-alone personal finance education classes, particularly in the middle or high school grade bands when the content becomes more focused; others may embed personal finance education instruction in existing courses. Regardless of the implementation option selected, instruction must:
- Address all five personal finance education topics.
- Be delivered by an appropriately certified teacher.
10. 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-band objectives for each of the five personal finance topics to inform instructional planning. The guidance will be released in the coming months.
11. Where can additional information relating to the proposed instructional requirement for personal finance education be found?
For more information relating to the instructional requirement, please visit the Personal Finance Education Webpage.
12. Where can public comment on the proposed amendment be submitted?
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 January 19, 2026) and can be submitted to REGCOMMENTS@nysed.gov and/or mailed to:
Santosha Oliver, Assistant Commissioner
NYS Education Department, Office of Standards & Instruction
89 Washington Avenue, Room 860 EBA
Albany, NY 12234