NEW YORK — New York State now requires students in grades 5 through 12 to learn personal finance, covering budgeting, money management, credit, debt management and investing. The mandate, part of the state’s broader push to reform high school graduation standards under the Portrait of a Graduate initiative, does not extend to kindergarten through fourth grade until the 2027-28 school year. The bottom line for districts: the requirement lands alongside a separate effort to phase out traditional Regents exams and offer alternative pathways for students to demonstrate competency.
On Long Island, schools have responded by aligning their curricula with state guidelines. At Baldwin High School, business teacher Gregg Kelley launched a new Advanced Placement business principles and personal finance class.
In a recent early morning session, Kelley asked students to name the biggest expected expenses of their lifetime. Students cited a vehicle, a house, and college. Kelley explained that affording such big-ticket items often depends on whether earnings were put away.
He described stashing $50 from his paychecks into a college fund for his 17-year-old daughter, which has grown to cover state tuition and boarding. He also spoke about how his daughter saved enough from a job she started two years ago to buy a used car, and how a reserve fund recently allowed him to pay for a new refrigerator after the old one broke down.
“When you guys have jobs, do not just take your money and just put it out and make your purchases. … Put something aside,” he told the class.
Courses and coursework across districts
The Wheatley School, East Williston’s high school for grades 8-12, is offering a new career and financial management course while covering required topics in other classes such as social studies, science, and math.
Principal Wayne Jensen said in a statement, “These new requirements should help students better understand the world they live in, and fortunately, our teachers are very well prepared to provide students with the opportunities to meet … these requirements.” In Huntington, schools Superintendent Beth McCoy said in an email that teachers in her district have “infuse[d] units into our current coursework.” McCoy said she hopes to help students “make good decisions in the future and develop sound financial practices in their adult lives.” Amy Pacifico, the Middle Country school district’s director of world studies, and Ryan Milano, director of mathematics and accountability and district department director, said in an email that younger students practice “coin math” and basic addition by role-playing purchases, while upper-grade students plan for financial emergencies and long-term investments.
Among high school options, seniors can elect to take a personal finance course.
The figure that matters
Education experts said learning about finance is increasingly important in a modern economy with high living costs, particularly because studies show many adults lack the knowledge necessary to navigate the financial landscape. According to the 2026 TIAA Institute-Global Financial Literacy Excellence Center Personal Finance Index, financial literacy has declined since the annual survey began tracking the data 10 years ago. Gen Z is the most challenged in this area, with only 38% of respondents in that age bracket answering index questions correctly, the survey found.
Teaching skills at an early age can help students make informed decisions about creating financial goals, building assets, avoiding debt, and creating emergency funds, experts said. It also helps create lasting security, they added.
Investors will note the mandate’s rollout is staggered: grades 5-12 now, with the youngest students folded in for the 2027-28 school year. What to watch next is how districts outside Long Island staff and schedule the coursework as the Regents phase-out proceeds.
