Financial Literacy Requirements Frequently Asked Questions

Ohio law requires students who enter ninth grade for the first time on or after July 1, 2022, the class of 2026, to earn one-half credit of financial literacy as a graduation requirement.

The standards referenced in the Ohio law are the Financial Literacy Standards and Model Curriculum
 

Financial Literacy Student and Licensure Requirements

Academic
Year
Who Can Teach
Financial Literacy
Financial Literacy
Requirements
2022-23 Any educator who holds a current license that allows them to teach grades 9-12.
  • Classes of 2023-2025: Financial literacy instruction is required for students to graduate. School districts determine how and when students meet this requirement. 
  • Class of 2026 and Beyond: For students entering high school for the first time on or after July 1, 2022, one-half credit of financial literacy that students can substitute for a one-half credit elective, or a one-half credit of math required for graduation. The one-half credit of math cannot be Algebra 1 (or Math 1 if using an integrated approach), Geometry (or Math 2 if using an integrated approach), Advanced Computer Science or Algebra 2. Financial literacy cannot count for social studies credit.
2023-24 Any educator who holds a current license that allows them to teach grades 9-12.
  • Classes of 2023-2025: Financial literacy instruction is required for students to graduate. School districts determine how and when students meet this requirement. 
  • Class of 2026 and Beyond: For students entering high school for the first time on or after July 1, 2022, one-half credit of financial literacy that students can substitute for a one-half credit elective, or a one-half credit of math required for graduation. The one-half credit of math cannot be Algebra 1 (or Math 1 if using an integrated approach), Geometry (or Math 2 if using an integrated approach), Advanced Computer Science or Algebra 2. Financial literacy cannot count for social studies credit.
2024-25

Any educator who holds a current license that allows them to teach grades 9-12 AND has a financial literacy validation (Licensure validation requirements to be determined)

OR

Educators with current licensure in social studies, family and consumer sciences, or business education

  • Classes of 2023-2025: Financial literacy instruction is required for students to graduate. School districts determine how and when students meet this requirement. 
  • Class of 2026 and Beyond: For students entering high school for the first time on or after July 1, 2022, one-half credit of financial literacy that students can substitute for a one-half credit elective, or a one-half credit of math required for graduation. The one-half credit of math cannot be Algebra 1 (or Math 1 if using an integrated approach), Geometry (or Math 2 if using an integrated approach), Advanced Computer Science or Algebra 2. Financial literacy cannot count for social studies credit.
2025-26 and Beyond

Any educator who holds a current license that allows them to teach grades 9-12 AND has a financial literacy validation (Licensure validation requirements to be determined)

OR

Educators with current licensure in social studies, family and consumer sciences, or business education

Class of 2026 and Beyond: For students entering high school for the first time on or after July 1, 2022, one-half credit of financial literacy that students can substitute for a one-half credit elective, or a one-half credit of math required for graduation. The one-half credit of math cannot be Algebra 1 (or Math 1 if using an integrated approach), Geometry (or Math 2 if using an integrated approach), Advanced Computer Science or Algebra 2. Financial literacy cannot count for social studies credit.


 

Additional Information

Notes on students using the financial literacy one-half credit to satisfy mathematics graduation requirements:

  • The Financial Literacy one-half credit course may be used in lieu of a one half-credit for mathematics graduation requirements for students who enter high school on or after July 1, 2022. The one-half credit of financial literacy cannot be used in lieu of state assessed courses for mathematics (Algebra 1, or Math 1 if using an integrated approach; Geometry, or Math 2 if using an integrated approach; or Algebra 2 or its equivalent).
  • Students who choose to use Advanced Computer Science coursework in lieu of Algebra 2 or its equivalent for graduation cannot use the financial literacy one-half credit for mathematics graduation requirements as well. The one-half credit of financial literacy may be used to satisfy the general electives graduation requirements. 
 

Frequently Asked Questions

General

Educator Licensure


General

    Does the new law refer to specific standards and model curriculum?
    Ohio law states the study and instruction of financial literacy shall align with the academic content standards and model curriculum for financial literacy adopted by the State Board of Education in 2019. In developing the curriculum for the study and instruction of financial literacy, schools may use available public-private partnerships and resources and materials that exist in business, industry, and through the centers for economics education at institutions of higher education.
     

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    What EMIS code should be used for the financial literacy graduation credit?
    Financial Literacy, EMIS code 153001, can be used for students taking the one-half credit financial literacy course that can satisfy either an elective or mathematics graduation requirement.

    Personal Financial Management, EMIS code 091052, can be used for students taking the one-half credit financial literacy course that can satisfy either an elective or mathematics graduation requirements. This code can only be used for students who take the course with an educator licensed to teach Family and Consumer Sciences.
     

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    Does financial literacy need to be one half credit?
    Yes, financial literacy is required in law to be a one-half credit course for all students in the class of 2026 and beyond. In Ohio Revised Code, one-half unit means a minimum of sixty hours of course instruction.
     

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    Can students earn a one-half math credit and a one-half financial literacy credit for the same course? Or can students earn one-half economics (social studies) credit and one-half financial literacy credit for the same course?
    Both scenarios are examples of simultaneous credit. Districts can refer to the Integrated Coursework and Awarding Simultaneous Credit page for more guidance on simultaneous credit.
     

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    Can financial literacy be offered as a summer school course or as a credit flexibility option?
    Yes. The district may choose to offer a financial literacy course as a summer school course option. Districts may also have guidance available for students and families who choose to take financial literacy as part of a student's credit flexibility plan.
     

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    Do all students in the same one-half credit financial literacy course need to use the half-credit to satisfy the same graduation requirement? For example, can some students in the financial literacy course receive credit for an elective credit and other students use the half credit for math?
    Yes, all students in the course will earn a one-half credit of financial literacy. Individual students may use that one-half credit of financial literacy to satisfy either a one-half credit of mathematics or electives for graduation requirements based on their individual needs.

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    Can financial literacy content be integrated into another course taught by a licensed teacher be sufficient?
    Schools may integrate content from multiple subject areas into a single course for which students can earn simultaneous credit. Districts can refer to the Integrated Coursework and Awarding Simultaneous Credit page for more guidance on Simultaneous Credit.
     

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    Can a student use College Credit Plus coursework to satisfy the Financial Literacy one-half credit requirement?
    Yes, a student may take a College Credit Plus course to satisfy the one-half credit graduation requirement in financial literacy. Each district should review the college course syllabus to ensure alignment of the College Credit Plus course to the requirements of a financial literacy course. A college course may satisfy the student’s high school graduation requirement in that subject area.
     

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    Can a student use a College Credit Plus economics course to satisfy the financial literacy requirement?

    Many economics courses may cover some of the content required to satisfy the financial literacy graduation requirements, but not all the content. Local districts and schools should review the content of the college course before the student enrolls with the intent to satisfy the high school requirement to ensure that it includes all necessary components. To satisfy the Financial Literacy requirement, course content should include the study of:  

    • Financial Responsibility and Decision Making  
    • Planning and Money Management   
    • Informed Consumer  
    • Investing  
    • Credit and Debt 
    • Risk Management and Insurance  

    Any course can also be reviewed against the academic content standards and model curriculum for financial literacy to ensure all content is covered. 

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    Does this new graduation requirement in financial literacy impact district and school report cards?
    There are no updates at this time to the Ohio School Report Cards connected to the financial literacy graduation requirement for students entering ninth grade for the first time on or after July 1, 2022.
     
    Students who do not meet this course requirement may not qualify for graduation and impact the graduation rate component for district and school report cards.

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    Can the Financial Literacy one-half credit course be taught in middle grades for high school credit?
    Any high school level course may be taught prior to ninth grade for credit if it meets the requirements specified in Ohio law. Local control permits districts to make this determination. A properly certified educator needs to provide instruction using the same content, Financial Literacy Standards and Model Curriculum, to the 8th graders that they would receive in the high school course.
     
    If districts choose to pursue teaching this course for high school credit, districts must update their Middle Grades Financial Literacy Resolution as outlined in Ohio law.

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    Do students in community schools and chartered non-public schools need to meet the financial literacy graduation requirement?
    All students in public schools, including community schools, must earn one-half credit in financial literacy to graduate. In chartered nonpublic schools, only those students who are enrolled with a state scholarship (EdChoice, Cleveland, Autism, or Jon Peterson scholarship) must earn one-half credit in financial literacy to graduate. All other nonpublic school students are exempt from the requirement.

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    What are the financial literacy graduation requirements for students who enter ninth grader prior to June 1, 2022?
    Instruction in financial literacy is required for these students to graduate. School districts determine how and when financial literacy instruction is provided for these students.

    There are no licensure requirements for educators teaching financial literacy content for students who enter ninth grade prior to July 1, 2022.

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Educator Licensure

    What licensure areas do not need further training to teach financial literacy?
    Ohio law states: “A classroom teacher who holds a valid educator license or endorsement that is required to provide instruction in social studies, family and consumer sciences, or business education shall not be required to have a validation prescribed under this section to provide financial literacy instruction…”
     
    Ohio law identified these areas of licensure as qualified to teach financial literacy without pursuing the financial literacy licensure validation.
     
    Ohio Department of Education established the licensure list for Career-Technical Education based on an educator’s eligibility to teach business or family consumer science courses. The Office of Career Technical Education aligned courses that have a heavy concentration of business or family consumer science standards embedded in the course delivery model, including both standards and course outline and assessment. The list for Career-Technical Education includes all licensure codes that are eligible to teach the aligned courses. For questions about the Career Technical Education list of approved educator licenses, please contact the Office of Career-Technical Education.

    Educators with licenses not on the above list will need to earn the financial literacy licensure validation to teach financial literacy. The Department is currently developing the licensure validation rule that will be presented for adoption by the State Board of Education.
     
    Districts are encouraged to select the most qualified educator for their district to teach Financial Literacy.
     

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Last Modified: 10/13/2022 1:35:57 PM