North Carolina General Statutes 115C-81.65. Financial literacy
(a) Instruction shall be provided in personal financial literacy for all students. In addition to the requirements in subsection (b) of this section, the State Board of Education shall determine the other components of personal financial literacy that will be covered in the curriculum.
(b) (Applicable to students entering the ninth grade for years other than the 2020-2021 school year) Each student shall receive personal financial literacy instruction that shall include:
(1) The true cost of credit.
Terms Used In North Carolina General Statutes 115C-81.65
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Local school administrative unit: means a subdivision of the public school system which is governed by a local board of education. See North Carolina General Statutes 115C-5
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
(2) Choosing and managing a credit card.
(3) Borrowing money for an automobile or other large purchase.
(4) Home mortgages.
(5) Credit scoring and credit reports.
(6) Other relevant financial literacy issues.
(b) (Applicable to students entering the ninth grade in the 2020-2021 school year) The State Board of Education shall require during the high school years the teaching of a full-credit course focused solely on Economics and Personal Finance (EPF). A passing grade in the course shall be required for graduation from high school. The content of the course shall, at a minimum, include the standards established by the second edition of the Voluntary National Content Standards in Economics and the 2013 National Standards for Financial Literacy, as developed by the Council for Economic Education. The EPF course shall provide instruction on economic principles and shall provide personal financial literacy instruction that shall include, at a minimum, the following:
(1) The true cost of credit.
(2) Choosing and managing a credit card.
(3) Borrowing money for an automobile or other large purchase.
(4) Home mortgages.
(5) Credit scoring and credit reports.
(5a) Planning and paying for postsecondary education.
(6) Other relevant financial literacy issues.
(c) The State Board of Education shall require that EPF teachers receive the professional development necessary to ensure that the intent and provisions of this section are carried out. To the extent funds are made available for this purpose, the State Board of Education shall require the employing entity to make available to EPF teachers and prospective EPF teachers the EPF professional development course provided by the North Carolina Council on Economic Education (NCCEE). When practicable, teachers shall complete the EPF professional development course prior to teaching the EPF course in public schools. If necessary, teachers may begin teaching the EPF course in public schools while awaiting the next possible opportunity to complete a session of the EPF professional development course. To the extent possible, the EPF professional development course shall be taken at the NCCEE-approved location most conveniently located to the local school administrative unit. (2017-126, s. 5; 2019-82, s. 2(a).)