New Jersey Financial Literacy Standards
The American Public Education Foundation (APEF) authors the semi-annual Nation’s Report Card on Financial Literacy, awarding a grade to every state in the U.S. plus DC and Puerto Rico for its school financial literacy standards. In its latest report card (September 2025), New Jersey merited a “B” grade for its current personal finance education benchmarks.
In awarding the B, the APEF notes that New Jersey has made significant strides by requiring financial literacy instruction in both middle school and high school; having personal finance education standards in place for K-8 by grade bands; and having a state-sponsored financial literacy website. However, the standards fall short of an “A” grade, according to the APEF, due to the fact that no standalone personal finance course is required for high school graduation.
The Garden State’s current standards for middle school were put in place in 2019 when New Jersey Chapter 176 (A1414) was enacted. This statute requires that “a school district incorporate in each of the grades six through eight financial literacy instruction.” At the high school level, students are required to complete 2.5 credits (equivalent to half a year) in Financial, Economic Business, and Entrepreneurial Business Literacy as a condition of graduation. Students may complete this requirement “by completing a stand-alone, half-year course” or “by completing one or more elective courses that integrate the content and skills required.”
Legislation was introduced in 2024 as Assembly Bill 4764, which would require that all school districts offer a one-semester high school course in financial literacy. The bill also would require that districts incorporate financial literacy instruction in each of grades six through eight. The stated purpose of these mandates is “to provide students with the basic financial literacy necessary for sound financial decision-making.” The bill is still under consideration in the Assembly Education Committee.
NJ Financial Education Standards by Grade Level
To enforce the high school financial education standards in New Jersey, local school districts are “responsible for assessing and publicly reporting on the progress of all students in developing the knowledge and skills specified by the New Jersey Student Learning Standards, including civics, financial literacy, and all content areas not currently included in the Statewide assessment program.” New Jersey Student Learning Standard 9.1 outlines specific Personal Financial Literacy standards students must meet by the end of Grade 12 pursuant to this requirement.
At the K-8 levels, the state’s Career Readiness, Life Literacies, and Key Skills Learning Standards specified Personal Financial Literacy benchmarks to be met by the end of Grades 2, 5, 8, and 12, with which all districts were mandated to comply by the end of academic year 2015.
In addition to the educational standards, the New Jersey State Department of Education also provides financial literacy resources – including model curriculum – on the New Jersey Student Learning Standards 21st Century Life and Careers webpage. In 2022 the state launched a “financial wellness platform” to provide free courses, tools, and other resources related to financial literacy.
Recommended Policy for NJ Financial Literacy Programs
To address the gap in standards for personal finance education, the National Financial Educators Council has developed a set of benchmarks for all grade levels, K-12. This policy guide offers legislators a framework that standardizes educational quality and learner outcomes to provide the best possible financial education for American youth.
The Standards Guide is based on the notion that financial education should be treated with the same rigor as any other topic taught in schools and that all students should be capable – at minimum – of making near-term financial decisions.
National Standards for Financial Education
Financial Literacy Standards for Older Youth & Adults (High School through Adults)
Although there is no direct mandate by the New Jersey State Board of Education, it is recommended that national standards be implemented. Financial education is a unique subject; all participants have developed financial habits and relationships with money before instruction begins.
National standards are those that have been proven in empirical and theoretical research to produce the highest improvements in participant test scores.
Financial Literacy Standards for Kids (Kids PK through 8th Grade)
In collaboration with education leader Heidi Jacobs, the NFEC created these financial literacy standards to define learning goals and educational targets for optimal child financial education. Guided by strong pedagogical theory, the standards ensure that instructional targets are age- and developmentally-appropriate and that lessons can be effectively scaffolded. Standards represent five sections based on topic areas in the NFEC curriculum.
Standards for Financial Education Instructors
The NFEC teamed with the well-known Danielson Group to develop the first and only national standards for financial educators – The Framework for Teaching Personal Finance – to define optimal educator skill sets and performance levels. The framework also identifies the financial educator responsibilities empirically proven to produce highest gains in participant test scores. This framework is used in all 50 states, including New Jersey.
