Indiana Financial Literacy Standards and Policy Ranking

The Indiana Financial Educators Council (INFEC) is the state advocacy chapter of the National Financial Educators Council (NFEC). Our role is to advance policy, standards alignment, and statewide action to ensure that Indiana students graduate prepared to manage real-world financial decisions.

The NFEC conducts national research and develops academic standards. INFEC translates that research into policy advocacy specific to Indiana. Our shared mission is to ensure that all learners graduate prepared to navigate real-world financial decisions by elevating financial education to the same level of quality, accountability, and instructional integrity as other required core academic subjects.

Indiana Financial Education Standards Alignment: A State-Level Policy Assessment

An analysis by the National Financial Educators Council (NFEC) indicates that Indiana’s approach to financial education falls short of aligning with the baseline academic standards typically required of core high school subjects. Using a uniform 12-criteria framework applied nationwide, the NFEC assessed whether state-led financial education policies meet fundamental expectations in areas such as instructional rigor, governance, curriculum integrity, teacher readiness, assessment systems, and sustained program support.

The findings show that Indiana received an overall alignment score of 4.2 out of 100, resulting in a Failing designation. Of the 12 criteria evaluated, 11 were rated Failing and one was classified as Below Par, with none meeting the At Par benchmark. These outcomes point to significant gaps in key policy elements that are standard in other academic disciplines, suggesting that Indiana’s financial education framework lacks the necessary structure to provide instruction that is consistent, rigorous, and accountable at a level comparable to subjects like mathematics, science, and English/language arts.

Indiana Financial Education Assessment

INFEC’s Advocacy Focus in Indiana

INFEC works to ensure that financial education is treated as a core academic subject rather than optional enrichment. Our advocacy is organized to advance priorities that align Indiana’s policy environment with established academic expectations.

Research & Policy Guidance

INFEC promotes financial education policies aligned with core academic standards, emphasizing clear outcomes, educator preparedness, and accountability. Grounded in national research, INFEC works with educators, community leaders, and policymakers to identify gaps, evaluate legislation, and support scalable, standards-aligned implementation.

Standards for Financial Educators and Learners

INFEC supports the adoption of comprehensive learner outcome standards and educator competency frameworks to strengthen instructional quality statewide. By providing clear benchmarks for what students should know and be able to do – and what educators must demonstrate to teach effectively – INFEC helps establish consistent expectations that support long-term financial capability development.

Closing Statement

Indiana’s students deserve more than exposure to financial concepts; they deserve real preparation for the financial decisions that shape adulthood. These findings reveal a clear opportunity to strengthen financial education by aligning it with the rigor and accountability applied to other core subjects.

By advancing standards-based reform and investing in quality implementation, Indiana can ensure that every student graduates financially prepared for life beyond high school. Meaningful progress requires collective action from educators, families, policymakers, and community leaders – working together to make financial education a foundational part of a future-ready education system.

National Financial Educators Council

Indiana DOE Academic Standards – Personal Finance / Financial Literacy

Graduation Pathways FAQ

Senate Bill 35 (proposal for standalone requirement)

Memo on Personal Financial Responsibility Course & Standards

NFEC’s national and state advisory board

National Evaluation of State Financial Literacy Mandates and Academic Standards Alignment

State-Mandated Financial Literacy Standards: A Comprehensive National Review

Financial literacy instructor requirements

Certified financial literacy professional

Teaching financial literacy

Financial Literacy Standards in Indiana

As of 2026, Indiana does not yet require all students to complete a standalone personal finance course to graduate from high school. However, Indiana law does require that personal financial responsibility instruction be included in high school curricula beginning with the Class of 2028 graduation cohort, pursuant to Indiana Code (IC) 20-30-5-19 (2023). Each school corporation, charter school, and state-accredited non-public school must include instruction in personal financial responsibility as part of its curriculum requirements. Source.

Current high school graduation requirements do not yet list a dedicated semester-long financial literacy or personal finance course as a separate credit requirement, although pending proposals and bills (such as Senate Bill 35) would mandate a standalone course covering financial literacy topics beginning with the Class of 2028. Source.

Other Agency Reviews: Champlain College, in its National Report Card summarizing current benchmarks for financial education state-by-state, awarded Indiana a grade of “C” in 2015. Although a specifically-identified course in personal finance is not a high school graduation requirement in Indiana, there are financial education standards in place which Indiana high school students must pass prior to graduation. The Hoosier State allows each district to determine how they provide that instruction.

Since 2009, Indiana has stipulated that schools must incorporate instruction in “personal finance responsibility” in grades 6-12 curriculum, and by the end of 12th grade students must meet the Financial Literacy Education (FLE) Standards set forth by the Indiana Code. It’s unclear how the state monitors district implementation of these standards. Champlain College awards Indiana extra credit, however, for providing public school teachers with professional development opportunities and credits to pursue financial literacy education study.

Summaries compiled by the Council for Economic Education indicate that Indiana includes personal financial responsibility in its standards for K-12 education, but no specific high school course is required to be offered and/or taken. Indiana also has no standardized testing for such instruction.