Is a high school course with personal finance concepts required to be taken as a graduation requirement? Yes, Minnesota requires that high school students take a half-year course in economics. A half-credit of economics taught in a school's agriculture education or business department may fulfill a half-credit social studies or economics course requirement if the content satisfies all of the academic standards in economics.
Grade A for the Class of 2028. In May 2023, a law was enacted applying to students in grade 9 in the 2024–2025 academic year (Class of 2028). The law creates a new high school graduation requirement. Students will need to successfully complete a half-year personal finance course for credit in grades 10, 11, or 12 in order to graduate. Teachers of this course are required to have a field license or out-of-field permission in agricultural education, business, family and consumer sciences, social studies, or math.
Minnesota implemented new social studies standards in 2013–2014. Personal finance is embedded in an economics course required for graduation. There are 34 economics education benchmarks, five of which are personal finance in nature. Based on this information, we estimate that students receive approximately nine hours of instruction in personal finance. The proposed new standards for social studies are currently in the rulemaking process. If the commissioner-approved draft is implemented, we estimate that future students will receive approximately 10 hours of personal finance instruction in the required economics course (there are 30 economics education benchmarks, five of which are personal finance in nature). Minnesota requires that beginning no later than 9th grade all students have a Personal Learning Plan. The plan should include content related to academic scheduling, career exploration, career and employment-related skills, community partnerships, college access, all forms of postsecondary training, and experiential learning opportunities.
The Minnesota Department of Health has a web page with resources that educators can use in the classroom.
It is not clear how Minnesota measures student achievement in financial literacy.
2028