Vermont Financial Literacy Standards
There may be room for improvement in Vermont’s guidelines for financial education, concludes the Center for Financial Literacy at Champlain College. In 2015 Champlain gave the Green Mountain State the grade of “D” for its academic criteria related to financial literacy. This national report card gathers state-by-state standards data every other year.
No course presenting personal finance concepts is required to be taken for high school students to graduate in Vermont. Although the state’s educational quality benchmarks require students to demonstrate proficiency in global citizenship, financial literacy is not part of the mandate. The State Board of Education has approved educational standards that include some financial literacy topics; however, those topics are classified as “vital results” and are not linked to specific subject matter in the framework.
Although financial education is included in the Green Mountain State’s K-12 standards, it is not required to be implemented by districts, indicates the Council for Economic Education. No high school course in money management is required to be offered/taken in Vermont.
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.
