Is a high school course with personal finance concepts required to be taken as a graduation requirement? No, personal finance is not included in the graduation requirements, either as a stand-alone course or embedded in another course, and schools are not required to offer financial literacy courses. High school students must meet both local and state requirements in order to earn a high school diploma. The state does not specify that specific courses be taken in high school in order to graduate; this is done at the local level. The state requires that all students meet the Competency Determination (CD) standard, which is usually done by earning a passing score on MCAS, a state assessment exam in English, mathematics and science.
No policy change is pending that would change Massachusetts's grade.
The Massachusetts Board of Elementary and Secondary Education (BESE) sets statewide education goals, including the creation of education standards. State law allows but does not require BESE to include the teaching of financial literacy in public schools. In 2019, a law was approved that: (i) requires the creation of financial literacy education standards; (ii) allows schools to incorporated these standards into existing curriculum (e.g., mathematics, history and social sciences, technology, or business); and (iii) requires the state's Department of Education to assist schools in the selection of materials and curriculum on personal financial literacy and to identify and offer information on resources for professional development activities and instruction on personal financial literacy to educators. Standards for Personal Financial Literacy for high schools are included in the 2018 History and Social Science Curriculum Framework. These standards may be used as a stand-alone course or incorporated into a variety of subjects. Further information regarding financial literacy can be found via the search function on the Massachusetts Department of Elementary and Secondary Education's website (DESE).
Massachusetts has an Economic Empowerment Trust Fund to encourage and facilitate economic empowerment. Its funds may be used to establish financial literacy programs in schools. In fiscal year 2023, financial literacy planning and implementation grants were available to local schools, up to $15,000, to support curriculum development, curriculum selection, professional development, and experiential learning. In 2021, the State Treasurer's office issued the following report: Personal Financial Literacy Education in the Massachusetts Public School System. The data in this report indicates that a majority of students attend high schools that offer a stand-alone personal finance elective in the state but that very few attend a high school that requires a stand-alone personal finance course as a local graduation requirement. The DESE website contains a list of personal finance resources for educators.
Not applicable.
2028