instruction - Graduation requirement - Duties of Department of Education - Transfer students. A. Personal financial literacy education shall be taught in the public schools of this state. Personal financial literacy education shall include, but is not limited to, the following areas of instruction: 1. Understanding interest, credit card debt, and online commerce; 2. Rights and responsibilities of renting or buying a home including: a. down payments, mortgage payments, and variable and fixed interest rates, b. various types of mortgage loans, and c. escrow; 3. Savings and investing; 4. Planning for retirement including individual retirement accounts (IRAs), plans established under Section 401(k) of the Internal Revenue Code of 1986, as amended, and other avenues for saving and investing for retirement; 5. Bankruptcy; 6. Banking and financial services; 7. Managing a bank account including online banking features; 8. Understanding credit scores, credit reports, and what factors affect an individual's credit score; 9. Understanding the Free Application for Federal Student Aid (FAFSA), loans and borrowing money, including predatory lending and payday loans; 10. Understanding insurance; 11. Identity fraud and theft; 12. Charitable giving; 13. Understanding the financial impact and consequences of gambling; 14. Earning an income; and 15. Understanding state and federal income taxes. B. Beginning with students entering the ninth grade in the 2025-2026 school year, in order to graduate from a public high school accredited by the State Board of Education with a standard diploma, students shall fulfill the requirement by satisfactorily completing a personal financial literacy course or coursework containing the areas of instruction for personal financial literacy as provided in subsection A of this section during the tenth, eleventh, or twelfth grade. C. Personal financial literacy instruction shall be integrated into one or more existing courses of study or provided in a one-half (1/2) unit personal financial literacy course. School districts may integrate or embed personal financial literacy instruction within one or more courses offered by the district to be counted toward meeting the graduation requirements of this section. Courses offered at a technology center school through an agreement between the school district and the Oklahoma Department of Career and Technology Education which integrate or embed personal financial literacy may, upon the approval of the Board, be counted toward meeting the graduation requirements of this section. School districts shall have the option of determining if a separate, one- half (1/2) unit personal financial literacy course will be offered as an elective, in addition to any courses offered by the school district or a partnering technology center school which integrate or embed the required personal financial literacy instruction. D. Students with the most significant cognitive disabilities (MSCD) who have an Individualized Education Program (IEP) that directs that the student is to be assessed with alternate achievements standards through the Oklahoma Alternative Assessment Program may demonstrate satisfactory knowledge in each area of instruction listed in subsection A of this section upon a determination, supported by documentation, by the school district that the student has met the following criteria: 1. Receives substantive and substantial instruction in life- skills curriculum; and 2. Demonstrates the acquired knowledge of the student with MSCD by alternate measures as required by the IEP. E. The State Board of Education shall identify and adopt curriculum standards for personal financial literacy instruction that reflect the areas of instruction listed in subsection A of this section. The standards shall be incorporated into the state academic content standards adopted by the Board pursuant to Section 11-103.6 of this title. F. The State Department of Education shall: 1. Develop guidelines and material designed to enable schools to offer personal financial literacy as a separate course and shall develop guidelines and material designed to enable schools flexibility to integrate personal financial literacy within coursework as determined by the school district. The guidelines shall outline the areas of instruction to be taught based on the curriculum standards adopted by the Board; 2. Develop professional development programs that are designed to help teachers provide instruction in personal financial literacy. Development programs shall be designed to help teachers provide instruction through a separate personal financial literacy course. Professional development shall additionally be designed for teachers embedding personal financial literacy within their existing subject matter. Development of a bridge program designed for teachers seeking to transition from embedded instruction to a separate personal financial literacy course shall be developed; 3. Provide resources to assist schools in developing a separate personal financial literacy course and resources for schools seeking to offer a separate personal financial literacy course. The Department shall provide support to schools seeking to determine the most appropriate coursework when embedded instruction is necessary; 4. Provide and identify resources designed to enable students identified as English language learners and students with specific learning disabilities or individual educational needs to understand and use the personal financial literacy information presented; and 5. Utilize funds deposited into the Personal Financial Literacy Education Revolving Fund created in Section 11-103.6h-1 of this title for the purpose of and to fund the Passport to Financial Literacy Act. Such funds may be used for developing and providing guidelines, materials and resources for personal financial literacy for students and teachers including, but not limited to, online curricula, training and professional development for teachers in the area of personal financial literacy as required in this subsection. The Department may use such funds to work in conjunction with one or more Oklahoma-based not-for-profit organizations that have proven expertise in the development of standards and curricula as well as delivery of teacher professional development in personal financial literacy. The Department may work with these organizations for the purposes of developing personal financial literacy standards, curricula, and guidelines; providing materials and resources; and development of professional teacher learning programs. G. 1. For students who transfer into an Oklahoma school district from out of state after the tenth grade, school districts shall assess the knowledge of the student in each of the areas of instruction listed in subsection A of this section. If the school district determines that the transferred student has successfully completed instruction in the areas of personal financial literacy instruction at a previous school in which the student was enrolled or if the student demonstrates satisfactory knowledge of the areas of personal financial literacy instruction through an assessment, the school district may exempt the student from completing instruction in personal financial literacy. School districts may use the assessment developed and provided by the State Department of Education or the Department of Career and Technology Education as approved by the Board. School districts may develop personal financial literacy assessments for transfer students as provided in this subsection. 2. For students who transfer into an Oklahoma school district from out of state during or after their junior year of high school, school districts may make an exception to the requirements for a personal financial literacy course pursuant to the provisions of Section 11-103.6 of this title. School districts shall still encourage completion of instruction in personal financial literacy. H. The State Textbook Committee created in Section 16-101 of this title may, when selecting textbooks for mathematics, economics, or similar courses, select those textbooks which contain substantive provisions on personal finance. I. School districts may assign the responsibility for teaching personal financial literacy to teachers with secondary education certifications closely related to agricultural education, business and information technology, economics, family and consumer sciences, history and social studies, marketing, or mathematics. Upon request of a school district, the State Department of Education may review a teacher's certification to determine qualifications under this subsection. School districts may assign the responsibility for teaching personal financial literacy to one teacher or group of teachers with appropriate qualifications on a continuing basis. J. Beginning with the 2020-2021 school year, all teachers who are assigned the responsibility for teaching personal financial literacy shall complete ongoing professional development training in the areas of personal financial literacy instruction in accordance with guidelines established by the State Department of Education. Added by Laws 2007, c. 173, § 2, eff. July 1, 2007. Amended by Laws 2015, c. 239, § 1, eff. July 1, 2015; Laws 2017, c. 279, § 1, eff. July 1, 2017; Laws 2024, c. 264, § 2, eff. July 1, 2025.
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