North Carolina Financial Literacy Standards
The Tar Heel State deserved a “B” in financial education standards for public schools in 2023, according to the Center for Financial Literacy’s National Report Card. This report card, compiled by Champlain College, ranks states every other year by their benchmark high school graduation requirements related to financial literacy. North Carolina requires a half-year course in civics and economics to get a high school diploma, and two of the 10 standards for this course pertain to personal finance.
These criteria mean that students in the Tar Heel State have received about 12 hours of personal finance instruction upon graduation, Champlain estimates. Further, North Carolina received extra credit for having launched – through its Department of State Treasurer – a program called “Futures,” which provides financial educational opportunities for North Carolinians of all ages. The Department of Public Instruction also sponsors a website that provides financial literacy resources.
Personal finance is included in the K-12 standards in the Tar Heel State, the Economic Education Council states. North Carolina mandates that districts must offer a high school course and students must take it to graduate (although it’s incorporated into a class with a different name). No testing standards exist, however.
National Standards for Financial Education
Financial Literacy Standards for Older Youth & Adults (High School through Adults)
Although there is no direct mandate by the California State Board of Education, it is recommended that national standards be implemented. Financial education is a unique subject; all participants have developed financial habits and relationships with money before instruction begins.
National standards are those that have been proven in empirical and theoretical research to produce the highest improvements in participant test scores.
Financial Literacy Standards for Kids (Kids PK through 8th Grade)
In collaboration with education leader Heidi Jacobs, the NFEC created these financial literacy standards to define learning goals and educational targets for optimal child financial education. Guided by strong pedagogical theory, the standards ensure that instructional targets are age- and developmentally-appropriate and that lessons can be effectively scaffolded. Standards represent five sections based on topic areas in the NFEC curriculum.
Standards for Financial Education Instructors
The NFEC teamed with the well-known Danielson Group to develop the first and only national standards for financial educators – The Framework for Teaching Personal Finance – to define optimal educator skill sets and performance levels. The framework also identifies the financial educator responsibilities empirically proven to produce highest gains in participant test scores. This framework is used in all 50 states, including California.