State-by-State Assessment with Regard to Financial Literacy and Personal Finance Education Actions

State Department of Education Link http://www.ok.gov/sde/  
Legislation and Authorization

210:15-3-198. Overview of Personal Financial Literacy for Grades 7-12

(a) Personal Financial Literacy is designed for students in grades 7-12. These standards of learning are priority, essential, and necessary for all Oklahoma students. Learning the ideas, concepts, knowledge, and skills will enable students to implement personal financial decision-making skills; to become wise and knowledgeable consumers, savers, investors, users of credit, money managers, and to be participating members of a global workforce and society.
(b) The intent of personal financial literacy education is to inform students how individual choices directly influence occupational goals and future earnings potential. Effective money management is a disciplined behavior and much easier when learned earlier in life. The fourteen areas of instruction designated in the PASSPORT TO FINANCIAL LITERACY ACT OF 2007 (70 O.S. § 11-103.6h) are designed to provide students with the basic skills and knowledge needed to effectively manage their personal finances. Basic economic concepts of scarcity, choice, opportunity cost, and cost/benefit analysis are interwoven throughout the standards and objectives. This systematic way of making personal financial decisions will provide students a foundational understanding for making informed personal financial decisions.
(c) Real world topics covered by these standards include the following: The newly adopted Personal Financial Literacy standards became law upon the adjournment of the Oklahoma Legislature in May 2008.
Updated - Word Doc. 

Links to State Bills  
Additional Links  
Stand-Alone Personal Finance Standards YES Chapter 15 - Curriculum and Instruction, Subchapter 3 - Priority Academic Student Skills, Part 26 - PERSONAL FINANCIAL LITERACY Grades 7-12. These standards of learning are priority, essential, and necessary for all Oklahoma students. Must be taught by the districts. Real world topics covered by these standards include the following: (1) Earning an income; (2) Understanding state and federal taxes; (3) Banking and financial institutions; (4) Balancing a checkbook; (5) Savings and investing; (6) Planning for retirement; (7) Understanding loans and borrowing money, including predatory lending and payday loans; (8) Understanding interest, credit card debt, and online commerce; (9) Identify fraud and theft; (10) Rights and responsibilities of renting or buying a home; (11) Understanding insurance; (12) Understanding the financial impact and consequences of gambling; (13) Bankruptcy; and (14) Charitable giving.
Personal Finance Standards in Career and Techical Education (CTE), Family and Consumer Sciences NO
Personal Finance Embedded in Social Studies or Economics Standards NO
Personal Finance Embedded in Mathematics Common Core Standard Minor amount
State Has Adopted Mathematics and English Language Arts Common Core YES
Personal Finance or Financial Literacy Course Required or Offered YES All students are required to complete the Personal Financial Literacy Passport. Passport completion is tracked by the Oklahoma Department of Education.
Personal Finance Course Required for Graduation  NO
Personal Finance Content required in Economics or Other Course Required for Graduation   NO Oklahoma does not require economics and personal finance for graduation.
Prescribed or Recommended Personal Finance Curriculum  YES Extensive curriculum for the Personal Financial Literacy Standards. The curriculum project exceeds 1,440 pages.
State Requires Economic Reasoning /Thinking Skills  YES Common Core, Social Studies, Economics, and Financial Literacy Standards.
State Standard Correlated with Jump$tart Financial Literacy Standard YES Standards are based on the Jump$tart Standards, as well as on standards from Wisconsin, Missouri, Utah, and Arkansas.
State Assessment of Personal Finance Required  NO Financial Literacy is not tested in End of Course or other state assessments.
Financial Literacy Bills Currently Being Considered by the State Legislature NONE
Financial Literacy Education Bills Signed by Governor and/or Passed by the House and Senate  A bill signed by the governor in 2007 requires personal financial literacy education to be taught in public schools in Oklahoma.
State Appropriations and State Dept Education Funding for K-12 NO
Established Financial Literacy Month N/A