Nevada Financial Literacy Standards
How does the Silver State compare to the rest of the U.S. in terms of public school financial education standards? According to the Champlain College National Report Card, in 2015 Nevada earned a grade of “C” in this regard. Nevada does mandate that financial literacy topics must be taught in state high schools, but doesn’t stipulate personal finance as a graduation requirement. It’s up to local districts to decide how the guidelines for personal finance content are met.
While the Nevada Department of Education provides guidance for teachers presenting personal finance instruction, the guidance document states that it “is not policy nor is it meant to be a curriculum guide, rather, it is a tool to aid school districts in the implementation of the law requiring instruction in financial literacy.” The Silver State does earn extra credit, Champlain says, because the Department of Education offers an extensive list of financial literacy resources for schools.
The Economic Education Council (CEE) indicates that Nevada incorporates instruction in financial concepts in its standards for K-12 education, which are required to be implemented by districts. No high school course must be offered/taken in Nevada, and no personal finance testing has been standardized.
National Standards for Financial Education
Financial Literacy Standards for Older Youth & Adults (High School through Adults)
Although there is no direct mandate by the California 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 California.
