States Accelerate Financial Literacy Education with Most Requiring It for Graduation

Alexandria, VA—With only 49 percent of US adults demonstrating financial literacy in a 2025 assessment, states are increasingly focused on expanding financial literacy education to improve students’ long-term financial well-being. A new NASBE policy update examines common state approaches and highlights steps—such as strengthened teacher training and curriculum—that state boards can take to improve quality and access as graduation requirements in financial literacy gain traction.

According to NASBE’s analysis, 41 states require personal finance education for graduation, though approaches vary. Many states now require students to take stand-alone courses while others, like Georgia, require courses in related subjects, including economics, to include instruction in financial education. In Maine and North Dakota, financial literacy instruction is embedded in social studies courses.  Rhode Island allows students to demonstrate proficiency through a course, assessment, project, or other approved method.

Five states do not require a financial literacy course to graduate but do require districts to offer personal finance as a stand-alone course, like Maryland. Many of the state’s districts have gone on to add their own graduation requirement, however.

Several others—including Georgia, Kansas, Rhode Island, Vermont, and Washington—have adopted statewide standards organizing instruction around earning income, spending, saving, investing, managing credit, and managing risk.

Teacher training also remains a critical lever for ensuring these life skills: Students taught by educators with substantive preparation in personal finance score three times higher on financial knowledge assessments than peers taught by untrained teachers. While no state requires a stand-alone license, many require relevant licensure, endorsements, or training.

“Financial literacy is applicable to everyone, whether you are going to college, whether you are going to technical school, or if you’re just going to work,” says Georgia State Board Member Matt Donaldson.

“As students, we are learning how to collaborate with people, work on teams, analyze texts, but there’s so much more we could be doing,” adds Ionnis Asikis, a former student member on the Massachusetts state board. “Financial literacy is at the core of that.”

Read Advancing High Schoolers’ Financial Literacy.

NASBE serves as the only membership organization for state boards of education. A nonpartisan, nonprofit organization, NASBE elevates state board members’ voices in national and state policymaking, facilitates the exchange of informed ideas, and supports members in advancing equity and excellence in public education for students of all races, genders, and circumstances. Learn more at www.nasbe.org.

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