What Massachusetts requires
Massachusetts' statewide policy establishes personal financial literacy standards without creating a universal course or diploma-credit mandate. General Laws chapter 69, section 1R defines the required subject matter for those standards and expressly permits districts and other covered schools to incorporate them into existing curriculum.[2][3]
The Board of Elementary and Secondary Education adopted the current History and Social Science Framework on June 26, 2018. Its high-school personal finance section contains 24 standards in four topics: earning and spending income, saving money, using credit and making investments, and protecting and insuring assets.[1]
The framework describes a flexible instructional model rather than a prescribed course. The standards are designed for a quarter to a half of a school year and may be taught as a stand-alone course or adapted for history and social science, mathematics, family and consumer science, business, or college and career readiness.[1][2]
Massachusetts' June 2026 statewide graduation framework recommends a required financial literacy module as a future MyCAP milestone, but the current statewide competency-determination rules and graduation guidance do not create a personal finance requirement. House Bill 4670 would separately require instruction, but it remained before the Senate Ways and Means Committee as of this review and is not current law.[6][5][7]
- Grades / placement
- High school
- Responsible agency
- Massachusetts Department of Elementary and Secondary Education
- Assessment required
- No
- Evidence
- 7 primary sources
Implementation timeline
- Milestone 01
The Board adopted the current History and Social Science Framework, including 24 high-school personal financial literacy standards.[1]
- Milestone 02
The Student Opportunity Act added General Laws chapter 69, section 1R, defining personal financial literacy topics and permitting integration into existing curriculum.[2]
- Milestone 03
The House-approved financial literacy bill was referred to the Senate Committee on Ways and Means, where it remained pending at this review.[7]
- Milestone 04
The administration released recommendations for a future statewide graduation framework that would include a financial literacy module; current student requirements did not change.[6]
Massachusetts personal finance standards
The complete list below contains all 24 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.
2018 Massachusetts History and Social Science Curriculum Framework: High School Standards for Personal Financial Literacy
Adopted by Massachusetts Board of Elementary and Secondary Education on 2018-06-26.
Open the official documentEarning and spending income
Six standards address work, income, taxes, advertising, payment methods, and consumer protection.
- 01
Choosing work
Explain how qualifications and factors such as satisfaction, independence, salary, learning opportunities, benefits, and location shape job choices.[1]
- 02
Labor markets and income
Explain how labor markets determine wages and salaries and how economic or industry changes affect income and unemployment.[1]
- 03
Federal income-tax rates
Analyze the impact of federal income-tax rates on people at different income levels from 1950 to the present.[1]
- 04
Advertising and purchasing
Describe how advertising and social media influence purchasing and use data to research their effects on durable and temporary purchases.[1]
- 05
Ways to pay
Compare the costs and benefits of cash, cards, checks, mobile payments, layaway, rent-to-own, and other ways of paying or donating.[1]
- 06
Consumer protection
Explain the roles of state and federal governments in protecting consumers.[1]
Saving money
Six standards cover banking, interest, inflation, saving incentives, regulation, and goal-based planning.
- 01
Banks as financial intermediaries
Recognize that banks and other financial institutions lend funds received from depositors to borrowers.[1]
- 02
Principal and interest
Explain principal, interest, and compound interest and how each affects savings growth.[1]
- 03
Real and nominal returns
Explain the difference between a real savings return adjusted for inflation and a nominal interest rate.[1]
- 04
Government saving incentives
Research individual retirement accounts and education savings plans and analyze their effectiveness as saving incentives.[1]
- 05
Banking regulation and consumer safety
Analyze how the Federal Reserve, CFPB, FDIC, and state banking departments protect banking-system safety and consumers.[1]
- 06
Saving for a future goal
Formulate a saving or investment plan for a future goal such as college or retirement.[1]
Using credit and making investments
Ten standards address borrowing terms, credit records, repayment, financial assets, markets, diversification, and regulation.
- 01
Credit cards as loans
Recognize credit-card purchases as loans and explain fees and comparatively high interest rates.[1]
- 02
Introductory credit rates
Explain why low introductory credit rates may rise after a late or missed payment.[1]
- 03
Credit bureaus, reports, and scores
Explain credit bureaus and ratings, factors leading to denial, and how reports and scores may affect hiring, renting, and insurance.[1]
- 04
Consequences of unpaid debt
Research long-term consequences of failing to repay loans, including credit damage, repossession, garnishment, future borrowing limits, and bankruptcy.[1]
- 05
Credit-disclosure rights
Explain a consumer's right to full disclosure of loan terms and to a free credit report for verification.[1]
- 06
Planning a major purchase
Create a credit plan for a major purchase such as a vehicle or home and compare interest rates.[1]
- 07
Financial assets
Define financial assets such as deposits, stocks, bonds, mutual funds, and real estate and explain why their values change.[1]
- 08
Prices and returns in financial markets
Explain how buyers and sellers determine asset prices and influence rates of return.[1]
- 09
Diversification
Analyze how holding different kinds of assets can reduce risk for an individual investor.[1]
- 10
Securities regulation
Analyze the Securities and Exchange Commission's role in regulating financial markets.[1]
Protecting and insuring assets
Two standards cover insurance decisions and protecting personal information from identity theft.
- 01
Insurance purposes, costs, and coverage
Explain common insurance types, research competing costs and coverage, and select an appropriate option for a particular consumer.[1]
- 02
Identity theft and information security
Explain identity-theft risks and ways to protect sensitive information in online transactions, email scams, and telemarketing.[1]
Relevant law, rule, or board action
M.G.L. c. 69, § 1R
Financial literacy standards; establishment and implementationSpecifies financial literacy topics, permits integration into existing subjects, and directs DESE to make instructional resources available.[2]
M.G.L. c. 69, § 1D
Statewide educational goals and academic standardsAuthorizes the Board to include financial literacy and consumer skills in statewide academic standards.[3]
Notes for teachers and curriculum leaders
- Treat the 24 high-school personal financial literacy standards as the complete state framework for this topic, but do not describe Massachusetts as requiring a statewide personal finance course or credit.[1][5]
- Districts may use a stand-alone course or embed the standards in existing subjects. Local curriculum and diploma policies determine how students encounter the content.[1][2]
- The June 2026 graduation framework and House Bill 4670 describe possible future requirements. Neither changed current statewide graduation rules as of this review.[5][7]
Official sources
- 12018 Massachusetts History and Social Science Curriculum FrameworkLocator: Board adoption statement, PDF page 3; High School Standards for Personal Financial Literacy, PDF pages 173-176Supports: Board adoption date, all 24 standards, four topics, instructional duration, stand-alone and integrated delivery options
- 2General Laws Chapter 69, Section 1RLocator: Subsections (a)-(c)Supports: financial literacy standards topics, optional integration into existing curriculum, DESE resources
- 3General Laws Chapter 69, Section 1DLocator: Statewide academic standardsSupports: Board authority for financial literacy standards, relationship to curriculum frameworks
- 4Current Curriculum FrameworksLocator: History and Social ScienceSupports: 2018 framework remains current
- 5Graduation RequirementsLocator: State competency determination and local graduation requirementsSupports: current statewide graduation framework, local coursework requirements, absence of a personal finance completion requirement
- 6Governor Healey Releases Final Recommendations to Modernize High School Graduation RequirementsLocator: Financial LiteracySupports: future module recommendation, proposed flexible delivery
- 7House Bill 4670: An Act relative to personal financial literacy educationLocator: Status and Bill HistorySupports: pending proposal distinguished from current law
Frequently asked questions
Does Massachusetts require a personal finance course to graduate?
No statewide personal finance course or credit is currently required for every Massachusetts student. Districts set current coursework requirements, while the state provides high-school financial literacy standards that may be taught in several ways.[5][1]
Does Massachusetts have financial literacy standards?
Yes. The current state framework contains 24 high-school personal financial literacy standards in four topics: income and spending, saving, credit and investing, and protecting and insuring assets.[1][4]
Must Massachusetts schools teach financial literacy as a stand-alone course?
No. State law and the framework allow the standards to be incorporated into existing subjects, and the framework also allows districts to create a stand-alone course.[2][1]
How much instructional time does Massachusetts recommend?
The high-school standards are designed for approximately one quarter to one half of a school year, but the state does not attach a universal credit amount to them.[1]
Will Massachusetts add financial literacy to statewide graduation requirements?
The administration recommended a required MyCAP financial literacy module in June 2026, and House Bill 4670 would create a statutory requirement. As of September 20, 2026, those proposals had not changed current graduation requirements.[6][5][7]