Massachusetts General Laws
Chapter 69 - Powers and Duties of the Department of Elementary and Secondary Education
Section 1r - Financial Literacy Standards; Establishment and Implementation

Section 1R. (a) Financial literacy standards established pursuant to section 1D shall promote an understanding of personal finances including, but not limited to: (i) loans; (ii) interest and interest accrual; (iii) credit card debt; (iv) online commerce; (v) rights and responsibilities of renting or buying a home; (vi) saving, investing and planning for retirement; (vii) the role of banking and financial services; (viii) balancing a checkbook; (ix) state and federal taxes; (x) charitable giving; (xi) evaluating media content, including online content, that relates to personal finance matters; and (xii) saving, investing and planning for higher education or professional training.
(b) A school district, charter school, approved private day or residential school or collaborative school may incorporate the financial literacy standards established pursuant to section 1D and subsection (a) into existing curriculum including, but not limited to, mathematics, history and social sciences, technology or business.
(c) The department shall make resources available to school districts, charter schools, approved private day or residential schools and collaborative schools to assist in the selection of materials and curriculum on personal financial literacy. The department shall identify and offer information on resources for professional development activities and instruction on personal financial literacy. The department may consult with private or non-profit experts in the field of behavioral science or related disciplines and government stakeholders to identify such resources.
(d) The department may apply for federal, state or other funding, including funding available through the Economic Empowerment Trust Fund established pursuant to section 35QQ of chapter 10, to implement this section.
(e) Upon the action of the general court, there shall periodically be a review by the department relative to the implementation of the financial literacy standards, including a study of financial literacy programs being offered in the commonwealth to students in kindergarten to grade 12. The general court may direct the commissioner to consult with the office of the state treasurer to, subject to appropriation, convene a working group consisting of educators experienced in teaching curriculum related to financial literacy or personal finance and any individuals or organizations the department deems relevant with expertise in financial services, including, but not limited to, banking, borrowing and consumer protection. The review shall include a report on best practices and recommended improvements to the financial literacy standards. The report shall be submitted to the clerks of the house of representatives and the senate and the joint committee on education.

Structure Massachusetts General Laws

Massachusetts General Laws

Part I - Administration of the Government

Title XII - Education

Chapter 69 - Powers and Duties of the Department of Elementary and Secondary Education

Section 1 - Intent of Title

Section 1.5 - Applicability of Sec. 2 of Chapter 70 to This Chapter

Section 1a - Department of Elementary and Secondary Education; Commissioner; Duties

Section 1b - Board of Elementary and Secondary Education; Duties

Section 1c - Minimum Nutritional Standards for School Food Services; Regulations; Breakfast Programs; Guidelines for Reimbursement of Costs; Hepatitis B Immunization

Section 1d - Statewide Educational Goals; Academic Standards; Vocational Training; Grant Program

Section 1e - Curriculum Frameworks

Section 1f - Vocational-Technical Education and School-to-Work Transition Programs; Standards; Grants

Section 1g - Minimum Length of School Day and School Year

Section 1h - Adult Basic Education and Literacy Services System; Grants; Objectives

Section 1i - Performances of Public School Districts and Individual Public Schools; Evaluation System; Assessment Instruments; Reports

Section 1j - Underperforming or Chronically Underperforming Schools; Creation and Submission of Turnaround Plan; Appointment of Receiver; Annual Review

Section 1k - Determination of District's Chronic Under-Performance; Designation of Receiver; Creation of Turnaround Plan; Annual Review; Failure of Municipality to Fulfill Fiscal Responsibilities

Section 1l - Comprehensive Interdisciplinary Health Education and Human Service Discretionary Grant Program; Proposals; Rejection; Funds

Section 1m - Discretionary Grant Program

Section 1n - Alternative Education Grant Program

Section 1o - Truancy Prevention Program Certification Process

Section 1p - Safe and Supportive Schools Framework

Section 1q - State Seal of Biliteracy; Award; Criteria

Section 1r - Financial Literacy Standards; Establishment and Implementation

Section 1s - Statewide Targets for Addressing Persistent Disparities in Student Achievement; Submission of 3-Year Plan by Districts; Reporting

Section 1t - Student Preparedness for Workforce and Post-Graduate Success; Collection and Disbursement of Data

Section 2 - Statement of Amounts Spent for Vocational Schools; Annual Report

Section 4 - Compilation of Statistics as to Certain Institutions

Section 6 - Teachers; Applications for Positions; Qualifications

Section 8 - Use of School Buildings

Section 8a - Medical Emergency Response Plans; Model Plan

Section 9 - Classes for Illiterates and Foreigners

Section 9a - Establishment of Class

Section 10 - Reimbursement for Expenditures

Section 10a - Education for American Citizenship; Director

Section 11 - Powers and Duties of the Division of Immigration and Americanization

Section 30 - Approval of Organization Certificate or Charter Amendments; Periodic Inspections

Section 30a - Standards for Educational Institutions; Establishment; Revocation of Powers to Grant Degrees

Section 31 - Prerequisites to Approval of Organization Certificate or Charter Amendments

Section 31a - Awarding of Degrees and Courses Leading to Award of Degrees; Necessity of Authorization

Section 31b - Annual Assessment of Institution's Financial Risk of Imminent Closure; Definitions; Determination of Imminent Closure; Imposition of Fine for Failure to Comply With Section Requirements; Records Exempted From Disclosure; Training in Hig...

Section 31c - Notification of Accreditation of Institution to Applicant for Admission Upon Acceptance Required

Section 36 - Use of Cultural Organizations by Schools and Community Organizations; Grants