South Carolina

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

State Department of Education Link  
Legislation and Authorization The concepts identified in Section 59-29-410(B) of the Financial Literacy Instruction Act of 2005 (see Appendix A) closely align with the National Standards in K–12 Personal Finance Education (The Jump$tart Coalition for Personal Financial Literacy [Jump$tart] 2007) developed by a national panel of educational experts sponsored by the National Jump$tart Coalition for Financial Literacy. Teachers and administrators are encouraged to use these benchmarks, application examples, and the glossary of terms as a framework from which lesson plans, curriculum, and policy may be written.
Links to State Bills  
Additional Links  
Stand-Alone Personal Finance Standards YES Financial Literacy Standards. Content covered includes financial responsibility and decision-making; income and careers; planning and money management; credit and debt; risk management and insurance; saving and investing.
Personal Finance Standards in Career and Techical Education (CTE), Family and Consumer Sciences NO
Personal Finance Embedded in Social Studies or Economics Standards YES Personal finance content in Economics Standard. The student will demonstrate an understanding of how personal financial decisions affect an individual’s present and future economic status. State Board approved August 2011.
Personal Finance Embedded in Mathematics Common Core Standard Minor amount
State Has Adopted Mathematics and English Language Arts Common Core YES
Personal Finance or Financial Literacy Course Required or Offered YES Offered in the Business and CTE department.
Personal Finance Course Required for Graduation  NO
Personal Finance Content required in Economics or Other Course Required for Graduation   YES South Carolina requires a 1/2 credit economics unit which includes personal finance.
Prescribed or Recommended Personal Finance Curriculum  YES
State Requires Economic Reasoning /Thinking Skills  YES Common Core and Economics Standards.
State Standard Correlated with Jump$tart Financial Literacy Standard YES The Office of Standards and Support has developed aligned various standards in the South Carolina Academic Standards for Mathematics, English Language Arts and Social Studies with National Standards in K–12 Personal Finance Education.
State Assessment of Personal Finance Required   NO
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 vetoed by the governor but overridden in 2006 enacts the "South Carolina Financial Literacy Trust Act", which is an initiative for improving financial literacy by providing grants to school districts to provide financial literacy instruction for K-12 students.

The governor signed Act 38 - 4/15/05, which enacts the Financial Literacy Instruction Act of 2004, to provide for the development or adoption of a curriculum for local school boards to teach financial literacy, and provides for the establishment of a fund to receive public and private contributions for financial literacy instruction.

State Appropriations and State Dept Education Funding for K-12 YES The 2006 South Carolina Financial Literacy Trust Act provides grants to school districts to provide financial literacy for K-12.
Established Financial Literacy Month Applauds the newly formed South Carolina Jump$tart Coalition for personal financial literacy and recognize April 11-15, 2005, as "South Carolina Financial Literacy Week."