Thinking about where to start when it comes to implementing the personal finance course guaranteed through recent legislation?

Look no further than Next Gen Personal Finance (NGPF). With more than 70,000 teachers using NGPF curriculum and more than 15,000 participating in NGPF professional development, NGPF has become the trusted partner to ensure a successful implementation of this course in Ohio. 

Details about the bill: Great news that the new legislation will guarantee all students will complete a 1/2 unit financial literacy course prior to graduation! Details on Ohio Senate Bill 1 as it pertains to financial education includes this new graduation requirement: 

"...for students who enter ninth grade for the first time on or after July 1, 2022, financial literacy, one-half unit. Each student shall elect to complete the one-half unit of instruction in financial literacy either in lieu of one-half unit of instruction in mathematics under division (C)(3) of this section or an elective under division (C)(8) of this section."

Why is this important? As of October 2022, Ohio is one of 15 states that now are in the process of implementing or have implemented this guaranteed one semester personal finance course.

Research has found that financial education has many beneficial impacts including: 

• Manage credit better with credit scores going up and delinquency rates falling. 
• Make better decisions about student loans including shifting to low interest loans from high, and you don’t rack up credit card debt, and you don’t use private loans, which are  more expensive.”
• Reduces likelihood of taking out expensive payday loans.
• Increased savings from teachers and positive spillover effects with parents too! 

How can teachers prepare to teach this course? 

• Participate in NGPF PD and earn NGPF Academy hours through: 
• Certification Courses: Build your confidence in challenging content areas by investing only 2 hours per week; 11 different courses available, including Consumer Skills, Investing and Insurance
• On-Demand: Work at your own pace and on your own schedule with NGPF On-Demand with more than 40 one-hour modules available. 
• Live Virtual PD: Find resources you can use immediately with your students, collaborate with educators or attend a speaker series event every Thursday; five live events held weekly. 

• Review NGPF Curriculum
• Used by more than 2,600 Ohio teachers today
• NGPF's turnkey Semester Course, recently updated in the summer of 2022, makes lesson planning a cinch with each lesson including:  
  • Discussion prompts
  • Engaging activities and Arcade games
  • Exit tickets
• Already have a curriculum you enjoy? Check out these bite-size resources that will engage your students:
  • FinCap Friday: weekly current events video + quiz with 3 million plays to date
  • Arcade Games: More than 7 million game plays annually with 10 games currently available! 
  • Questions of the Day: More than 700 bell ringers to choose from

Frequently Asked Questions (FAQ): 

What are the standards that will be taught in the course? 

Per the text of the bill: "The study and instruction of financial literacy required under division (C)(9) of this section shall align with the academic content standards for financial literacy and entrepreneurship adopted under division (A)(2) of section 3301.079 of the Revised Code. In developing the curriculum for the study and instruction of financial literacy, schools may use available public-private partnerships and resources and materials that exist in business, industry, and through the centers for economics education at institutions of higher education."

• Learning standards and model curriculum available here

When does this guaranteed course take effect?

Per the text of the bill: "...for students who enter ninth grade for the first time on or after July 1, 2022."

Research has found that this course is best taught in the 11th or 12th grade when students are closer to major life decisions including life after high school, opening a bank account, obtaining a part-time job and starting to drive a car, to name just a few. 

Who can teach the financial literacy course in Ohio?

Per Ohio Department of Education website: "Educators with licensure in social studies, family and consumer sciences or business education are permitted to teach financial literacy. Additionally, by the 2024-2025 school year, Ohio law requires educators with other licensure areas to have earned a licensure validation in Financial Literacy in order to teach the required course. Social studies, family and consumer sciences or business education teachers are not required to obtain the licensure validation but may do so if they choose. The Ohio Department of Education is currently consulting an advisory group to help determine rules to recommend to the State Board of Education of Ohio for the licensure validation."

My district leaders are interested in learning more about implementation strategies. Do you have any tips? 

Dr. Carly Urban from Montana State University interviewed states that have been through the experience of implementing this course at scale. Her findings have been delivered in this report, Best Practices Implementing Financial Education in High Schools. 

What guidance has the Ohio Department of Education provided on the implementation of this course? 

The Ohio Department of Education has created this webpage to assist teachers and district leaders with the implementation on this course guarantee. 

Is NGPF PD approved in the state of Ohio? 

As of October 2022, 459 Ohio teachers have completed more than 12,000 hours of NGPF professional development which has been approved in districts across the state. 

Are there schools in our state already guaranteeing a personal finance course? 
The Got Finance? map provides insights on how hundreds of schools in your state are currently providing access to financial education. The Gold Standard schools are already guaranteeing that every high school student takes a one semester personal finance and may be useful thought partners as you implement at your school.

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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