Personal Finance

Assembly Bill (AB) 2927 , Chapter 37, Statutes of 2024 added a stand-alone course in personal finance to the high school graduation requirements, commencing with the graduating class of 2030–31. It requires public schools, including charter schools, to offer the course during the 2027–28 school year. The measure also calls for the State Board of Education to approve a curriculum guide, outlining topics and providing resources for the course.

Curriculum Guide
Submit Public Input
Public Input Webinar
Grant Opportunities

Curriculum Guide

Timeline

The development timeline for the Personal Finance Curriculum Guide was approved by the State Board of Education (SBE) on January 15, 2025, in order to meet the May 31, 2026, statutory deadline for completion. This timeline is subject to change. The SBE will only take action on changes to the approved timeline if they affect Instructional Quality Commission (IQC) or SBE action dates.

Foundational Principles

The Foundational Principles for the Personal Finance Curriculum Guide were approved by the SBE on January 15, 2025. They are provided to guide the work of those tasked with recommending a draft curriculum guide to the SBE for approval on or before May 31, 2026. These principles are based on requirements in the authorizing statute (AB 2927, Chapter 37 of the Statutes of 2024), feedback collected as requested in the California Department of Education’s (CDE’s) December 12, 2024, public input webinar, and other public comment collected during regularly scheduled public meetings.

1. Statutory Requirements
   
   The Personal Finance Curriculum Guide must meet the requirements in the authorizing statute as well as other legal requirements for curriculum in California. These requirements include, but are not necessarily limited to, the following:
   • The curriculum guide shall be written to support a “separate, stand-alone one-semester course in personal finance, that is not combined with any other course” (California Education Code [EC] Section 51225.32). The authorizing legislation also allows personal finance to be offered as a year-long course.
   • The curriculum guide shall include “all of, and only, the personal finance content specified in paragraphs (1) to (13), inclusive, of subdivision (a) of [EC] Section 51284.5.” These topics are as follows:
     1. Fundamentals of banking for personal use, including, but not limited to, savings and checking and managing to minimize fees.
     2. Principles of budgeting for independent living.
     3. Employment and understanding factors that affect net income, including the topics described in subdivision (a) of Section 49110.5.
     4. Uses and effects of credit, including managing credit scores and the relation of debt and interest to credit.
     5. Uses and costs of loans, including student loans, as well as policies that provide student loan forgiveness.
     6. Types and costs of insurance, including home, auto, health, and life insurance.
     7. Impacts of the tax system, including its impact on personal income, the process to file taxes, and how to read tax forms and pay stubs.
     8. Principles of investing and building wealth, including investment alternatives to build financial security, including tax-advantaged investments such as pensions and 401(k) plans, individual retirement accounts (IRAs), and stocks, bonds, mutual funds, and index funds.
     9. Enhancing consumer protection skills by raising awareness of common scams and frauds and preventing identity theft.
     10. Identifying means to finance college, workforce education, low-cost community college options, and other career technical educational pathways or apprenticeships. Financing options covered may include scholarships, merit aid, and student loans.
     11. Understanding how psychology can impact one’s financial well-being.
     12. Charitable giving.
     13. Other topics that are directly and specifically relevant to personal finance (see “Other topics” below).
   • The curriculum guide must meet federal accessibility requirements pursuant to Section 508 of the United States Workforce Rehabilitation Act. Content that cannot be made accessible may not be included in the document.
2. General principles. The Personal Finance Curriculum Guide shall
   • include accurate information about all areas of personal finance included in the curriculum guide;
   • align to the California Common Core State Standards for English Language Arts and Literacy in History/Social Studies, Science, and Technical Subjects, as appropriate (Reading Standards for Literacy in History/Social Studies 6–12, pp. 81–82; Writing Standards for Literacy in History/Social Studies, Science and Technical Subjects 6–12, pp. 86–89);
   • align, when relevant, with the media literacy content in the Model School Library Standards developed pursuant to EC Section 18101 and incorporated into content area frameworks pursuant to EC Section 33548;
   • be appropriate for use with students from all geographic and socio-economic backgrounds;
   • promote the values of financial responsibility and economic empowerment, emphasizing that financial knowledge and skills can help all students advance economically throughout their lifetimes;
   • be written in language that is consistent with California’s curriculum guidance and is accessible to multiple users, including high school teachers, support staff, administrators, parents and guardians, and the larger community of interest holders; and
   • be consistent with all applicable statutes and regulations and be appropriate for use with pupils of all races, religions, nationalities, genders, sexual orientations, and diverse ethnic and cultural backgrounds; pupils with disabilities; and English learners and not include any content that would subject a pupil to unlawful discrimination pursuant to EC Section 220.
3. Audience. The Personal Finance Curriculum Guide shall
   • provide guidance sensitive to the needs of teachers with various content area expertise and teaching various grade levels;
   • offer guidance on the qualifications and credentials required for educators to teach a personal finance course, consistent with EC Section 44257; and
   • include strategies that will allow access to the course content for all students, including students with disabilities, multilingual learners, and students in a range of socio-economic levels.
4. Administrative and Teacher Support. The Personal Finance Curriculum Guide shall
   • be easy to use for teachers both with and without educational backgrounds in personal finance, and for those credentialed in the various content areas included in EC Section 44257;
   • draw upon the National Standards for Personal Finance Education as well as curricular materials posted on the CDE website and those adopted by local educational agencies in California and in other states;
   • provide examples of different methods of instruction and pedagogical approaches (e.g., real-world scenarios, project-based learning, case studies, multimedia resources, guest speakers, etc.);
   • highlight successful examples of personal finance education from various schools and districts to guide administrators in implementing similar programs;
   • include strategies for effectively engaging with students, parents, and communities (e.g., community partnerships, personal finance town halls, informational flyers, showcase events, social media leveraging);
   • encourage scheduling strategies that would allow interested middle school students to take personal finance courses on their own campuses or to accelerate to a high school level course;
   • include examples of high-quality, publicly available resources for instruction (e.g., lesson plans, curricula, and other resources) that are currently being used in schools and that are provided at no cost; and
   • include examples of currently available professional development resources and encourage teachers and administrators to pursue professional learning opportunities to stay current with personal finance trends and effective teaching strategies.
5. Course Outlines. The Personal Finance Curriculum Guide shall
   • include outlines of personal finance courses currently being taught in California kindergarten through grade twelve schools to serve as examples for school districts and teachers; and
   • provide examples of how a personal finance course can be designed to meet the University of California’s A–G requirements.
6. Other Topics (topic 13, required by EC Section 51284.5). The developers of the Personal Finance Curriculum Guide shall consider for inclusion other relevant content including, but not limited to, information about the following:
   • Purchasing versus leasing a vehicle
   • Renting an apartment
   • Buying a home
   • Digital finance (online banking, digital wallets, cryptocurrency)
   • Predatory lending
   • California-specific financial information (e.g., California Dream Act, Cal Grant Programs, California Kids Investment and Development Savings [CalKIDS] Program, state-specific salary information)
   • Additional topics as determined during development

Public Input Webinar

Personal Finance Curriculum Guide Public Input Webinar, December 12, 2024 (Video; 16:08)

California State Superintendent of Public Instruction Tony Thurmond and the California Department of Education (CDE) have called for input from educators, students, parents/guardians, and community members on the development of the personal finance curriculum guide called for in Assembly Bill 2927.

Grant Opportunities

California districts and schools are eligible for grant funding for personal finance program development made available by Next Gen Personal Finance (NGPF).

$1 million in grants will be awarded through the NGPF California Challenge Grant Program.

Grant awards are limited to one per school and ten per district:

• $3,500 per school will be awarded to schools teaching the course in the 2025–2026 school year (up to $35,000 per district)
  
  
• $2,500 per school will be awarded to schools teaching the course in the 2026–2027 school year (up to $25,000 per district)

Grants are designated for exclusive use in the new personal finance course (including, but not limited to, professional development, field trips, and technology upgrades).

NGPF is also offering teachers $500 professional development stipends for 20 hours of completed professional development training in personal finance.

For more information on these opportunities, visit NGPF’s California Access to Financial Education Grant Program web page.