Financial Literacy Requirement FAQs

Financial Literacy Requirement FAQs

Amended Substitute Senate Bill 311, also known as the Ohio Core, requires integration of economics and financial literacy within social studies classes or another class. Listed below are frequently asked questions about financial literacy requirements under this law.

General Questions


General Questions

    At what grade level are schools required to teach financial literacy?

    Financial literacy is a requirement for graduation. However, there is no specified grade level for the teaching of financial literacy.

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    Who can teach financial literacy?

    Social Studies, Business Education, Marketing Education, and Family and Consumer Sciences teachers are all licensed to teach financial literacy. For specific licensure information, see the Certification and Licensure Dictionary.

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    Can teachers other than those licensed in business education, family and consumer sciences and/or social studies teach personal finance if it is included within the content of their assigned course of study?

    Yes, provided that the instruction includes the content found in the social studies academic content standards for Economics and Financial Literacy credit is not granted separately for the financial literacy instruction. For example, if personal finance is included as part of a discrete course, (such as Career-Based Intervention, mathematics, etc.), those teachers can provide that instruction since they are appropriately licensed to teach those courses. Credit, if granted, would be for the discrete course and not for personal finance. Remember that the Ohio Core does not require that students receive credit in financial literacy (that is a local district decision) but all students must receive instruction in financial literacy, however the district determines to provide it.

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    Is a school required to offer financial literacy as a stand-alone credit course?

    No. Schools are required to teach the content referenced by Am. Sub. S.B. 311 to all students. The content can be included in an existing course, for example American Government or Economics, as long as adequate time and attention is given to delivering that instruction. This is a local decision.

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    Can a school create a separate course to teach financial literacy?

    Yes. Schools have the option of creating separate stand-alone courses to teach financial literacy. There is no requirement as to the length of the course. It can be a credit-bearing course with local school board action.

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    Can a school require students to take a Social Studies course, a Business course or a Family and Consumer Sciences course to meet this requirement?

    Yes. School districts can require students to take a course that includes the fundamentals of financial literacy as a graduation requirement. Local boards of education reserve the right to increase graduation expectations beyond Ohio’s minimum requirements.

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    Is there a required graduation test for financial literacy?

    There is no statewide graduation test for financial literacy, although a local school district may choose to implement an assessment.

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    Are there alternative means for students to receive this instruction?

    Yes. There are a number of non-traditional ways for students to receive this instruction. Among them are credit flex, college credit plus and summer school programs. When these approaches are used to address the financial literacy requirement, all of the rules regarding these options continue to apply.

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    How should local districts affiliated with joint vocational school districts address the financial literacy requirement?

    This must be mutually determined between the local districts and the joint vocational school districts. Schools must be sensitive to providing financial literacy instruction for all students, even those who transfer in from other districts, before they are scheduled to graduate.

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Last Modified: 11/3/2015 1:11:34 PM

Pursuant to ORC 3301.079 (B) (3) and 3313.60, it is the responsibility of Ohio's local boards of education to vet and approve curriculum and educational materials for use in the public schools within their district. The use of any materials posted or linked to on the Ohio Department of Education website, including materials within the Common Core State Standards or Appendices or any state model curricula or other educational resource material, is entirely up to the discretion of each local board of education.