What Illinois requires
Illinois law requires consumer education in public-school courses for grades 9–12. The statutory content includes financial literacy topics such as budgeting, saving, investing, banking, credit, taxes, insurance, student loans, identity-theft protection, homeownership, contracts, and price comparison.[1]
The administrative rules turn that broad statute into a student-level participation requirement: each high-school student must take 50 minutes per day for nine weeks or the equivalent. The instruction must occur before completion of grade 12, but the state does not assign a separate credit value or list consumer education among the courses that are prerequisites to a diploma.[2][3][4][5]
Illinois distinguishes required instruction from course format. Consumer education can be incorporated into another course or offered as a separate required course. District superintendents must retain evidence that each student received adequate instruction, but the controlling sources do not make it a separately credited statewide graduation requirement.[2][4][5]
The Illinois Learning Standards for Social Science separately establish financial literacy expectations beginning in grade 1 and continuing through high school. Those standards describe what students should learn; the nine-week consumer education rules determine the minimum high-school instructional time and delivery obligation.[6][2]
House Bill 5533 proposes a one-semester stand-alone financial literacy course as a diploma prerequisite beginning with students entering grade 9 in 2029–30. The official bill record shows the proposal was re-referred to the House Rules Committee on March 27, 2026, so it is not used to classify current Illinois law.[7]
- Grades / placement
- Grades 9–12, Completed before the end of grade 12
- Responsible agency
- Illinois State Board of Education
- Assessment required
- Not located
- Evidence
- 7 primary sources
Implementation timeline
- Milestone 01
Illinois adopted financial literacy standards within the Illinois Learning Standards for Social Science.[6]
- Milestone 02
The State Board adopted revised social science standards, including the current financial literacy strand.[6]
- Milestone 03
The revised social science standards took effect for Illinois schools.[6]
- Milestone 04
Public Act 104-391 reorganized the School Code and renumbered the consumer education statute as Section 27-305 without removing the statewide requirement.[1]
- Milestone 05
Each student must complete nine weeks or the equivalent of consumer education, and the district superintendent must retain evidence of adequate instruction.[2]
Illinois personal finance standards
The complete list below contains all 33 required personal finance topics currently identified in the controlling state materials. Each topic remains separate so educators and search engines can find the exact requirement.
Illinois Learning Standards for Social Science
Adopted by Illinois State Board of Education on 2022-02-17.
Open the official documentIllinois financial literacy learning standards
Illinois embeds financial literacy in its social science standards from elementary school through high school. The complete financial-literacy strand is listed below; related economics standards are not relabeled as personal finance.
- 01
Income from work
Explain how people earn pay or income in exchange for work.[6]
- 02
Saving and spending
Explain that money can be saved or spent on goods and services.[6]
- 03
Banks and financial institutions
Describe the role of banks and other financial institutions in an economy.[6]
- 04
Borrowing and repayment
Explain that borrowers receive something of value now and agree to repay the lender over time.[6]
- 05
Influences on spending
Analyze how prices, advertising, peer pressure, available options, and other factors influence spending choices.[6]
- 06
Uses of income
Explain that income can be saved, spent on goods and services, or used to pay taxes.[6]
- 07
Interest as a borrowing cost
Explain that interest is the price a borrower pays for using someone else’s money.[6]
- 08
Education, work, and income
Analyze the relationship between skills, education, jobs, and income.[6]
- 09
Budget-based purchasing
Identify how people purchase goods and services while maintaining a budget based on income, taxes, saving, and interest rates.[6]
- 10
Credit and credit history
Describe the relationship among credit options, interest, and credit history.[6]
- 11
Saving relationships
Explain the relationships among savers, borrowers, interest, time, and the purposes for saving.[6]
- 12
Investments, risk, and wealth
Explain the relationship among investors, investment options and their risks, and income or wealth.[6]
- 13
Insurance and financial risk
Analyze the relationship among financial risks, protection, insurance, and costs.[6]
- 14
Individual costs and benefits
Understand how costs and benefits can depend on individual circumstances and factors outside a person’s control.[6]
- 15
Informed financial decisions
Explain the importance of collecting information, planning, and budgeting while accounting for circumstances that can limit access to capital.[6]
- 16
Time, interest, inflation, and saving
Explain how time, interest rates, and inflation influence saving patterns over a lifetime.[6]
- 17
Credit and payment options
Analyze different credit and payment options, the roles of lenders and interest, and their effects on individuals and communities.[6]
- 18
Diversified investments
Evaluate investment risks and returns while accounting for differences in individual risk disposition.[6]
- 19
Bias and financial decisions
Analyze how cognitive biases, environmental influences, and access to resources and necessities affect financial decision-making.[6]
- 20
Risk disposition and opportunity
Evaluate risk disposition and opportunity recognition for individuals and communities while accounting for structural influences.[6]
- 21
Banking, credit, and mortgage policy
Evaluate unequal effects of government and private policies related to banking, credit, and mortgage lending and use economic indicators to analyze or propose policy.[6]
Required high school consumer education topics
Section 27-305 identifies the minimum subject matter that grades 9–12 consumer education courses must include. These statutory topics operate alongside, but are not identical to, the social science learning standards.
- 01
Credit and installment purchasing
Understand consumer debt, installment purchases, credit scoring, managing credit debt, and completing a loan application.[1]
- 02
Budgeting
Develop and apply budgeting concepts to personal financial decisions.[1]
- 03
Saving and investing
Understand saving and investing as parts of personal financial planning.[1]
- 04
Banking and interest
Understand banking, including balancing a checkbook, opening a deposit account, and using interest rates.[1]
- 05
Simple contracts
Understand the basic terms and obligations of simple contracts.[1]
- 06
Income taxes
Understand State and federal income taxes.[1]
- 07
Personal insurance
Understand personal insurance policies and their financial role.[1]
- 08
Comparison shopping
Compare prices as part of informed consumer decision-making.[1]
- 09
Student loans
Understand higher-education student loans and their financial consequences.[1]
- 10
Identity-theft security
Understand practices that protect personal information and reduce identity-theft risk.[1]
- 11
Homeownership and mortgages
Understand obtaining a mortgage and compare fixed-rate, adjustable-rate, subprime, and predatory lending.[1]
- 12
Consumers in the economic system
Understand how consumers interact with agriculture, business, labor unions, and government in a mixed free-enterprise system.[1]
Relevant law, rule, or board action
105 ILCS 5/27-305
Consumer educationRequires grades 9–12 public-school courses to include consumer education and identifies the minimum financial literacy and consumer topics.[1]
23 Ill. Admin. Code 1.420(k)
Consumer Education and ProtectionAllows embedded or separate delivery, requires evidence of instruction, sets a nine-week minimum, and specifies teacher qualifications.[2]
23 Ill. Admin. Code 1.440(a)(11), (b)(3)
Additional Criteria for High SchoolsRequires consumer education in each district’s high-school curriculum and requires each student to complete nine weeks or the equivalent.[3]
105 ILCS 5/27-605
Required high school coursesLists the courses that are prerequisites to a public high-school diploma and does not create a separate consumer-education or personal-finance credit.[5]
HB 5533 (104th General Assembly)
Proposed stand-alone financial literacy graduation courseWould establish a future one-semester stand-alone diploma requirement, but remains pending in the House Rules Committee and is not current law.[7]
Notes for teachers and curriculum leaders
- Schedule at least 50 minutes per day for nine weeks or an equivalent amount of instructional time in grades 9–12. The requirement may be embedded, but the school must be able to document adequate consumer education for every student before grade 12 is complete.[2][3]
- Do not treat the social science standards as a substitute for the consumer education mandate. Curriculum should address both the learning standards and the statutory consumer topics in Section 27-305.[6][1]
- Teachers assigned to consumer education must hold a license valid for the grade levels taught and have completed at least three semester hours in consumer education courses.[2]
Official sources
- 1105 ILCS 5/27-305: Consumer educationLocator: 105 ILCS 5/27-305(a)Supports: grades covered, required consumer education topics, State Board curriculum authority
- 223 Ill. Admin. Code 1.420: Basic StandardsLocator: Section 1.420(k)(1)–(4)Supports: embedded or separate delivery, nine-week minimum, documentation requirement, teacher qualifications
- 323 Ill. Admin. Code Part 1: Additional Criteria for High SchoolsLocator: Sections 1.440(a)(11) and 1.440(b)(3), Required ParticipationSupports: district curriculum duty, student participation requirement, duration, distinction from specific graduation requirements
- 4Illinois Instructional MandatesLocator: Consumer Education, PDF page 17 (document page 16)Supports: current mandate summary, grade range, duration, delivery options, completion before grade 12
- 5105 ILCS 5/27-605: Required high school coursesLocator: Subsections (e) and (e-5), courses required as prerequisites to a diplomaSupports: statewide diploma course requirements, no separate personal-finance or consumer-education diploma credit
- 7HB 5533: Proposed stand-alone financial literacy graduation courseLocator: Last Action; synopsis; proposed amendments to 105 ILCS 5/27-305 and 27-605Supports: pending proposal distinguished from current law, proposed 2029-30 entering cohort
Frequently asked questions
Does Illinois require financial literacy in high school?
Yes. Every public high-school student must receive consumer education that includes financial literacy topics for at least nine weeks or the equivalent before completing grade 12.[1][2][3]
Does Illinois require a stand-alone personal finance course?
No. Districts may teach consumer education inside another course or as a separate required course. The student-level instruction and time requirement applies either way.[2][4]
How much consumer education does Illinois require?
The minimum is 50 minutes per day for nine weeks or the equivalent during grades 9–12. Illinois does not state a separate statewide personal finance credit value in this rule.[2][3]
What personal finance topics must Illinois students learn?
The statute names credit, budgeting, saving and investing, banking and interest, contracts, income taxes, insurance, comparison shopping, student loans, identity-theft security, homeownership, mortgages, and the consumer’s role in the economy. The social science standards add grade-banded financial literacy expectations.[1][6]
Is Illinois consumer education a graduation requirement?
No separate statewide diploma credit is assigned. Illinois requires every public high-school student to take the nine-week consumer-education instruction before completing grade 12, but the diploma-course statute does not list consumer education or personal finance as a separate graduation prerequisite.[2][3][5]