Iowa

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

State Department of Education Link http://educateiowa.gov  
Legislation and Authorization S.F. 2216 Signed by governor 5/1/08, Chapter 1127
S.S.B. 3097 Became S.F. 2216 2/21/08
Requires the state board of education to adopt rules establishing a core curriculum which school districts and accredited nonpublic schools must adopt before the start of the 2010-2011 school year for grades nine through 12 and before the start of the 2014-2015 school year for kindergarten through grade eight. The bill also requires a timeline for successful completion of core curriculum plans for students and provides for a core curriculum study by the department of education. Under current Code, the core curriculum must include ""financial literacy"", which the bill defines as including but not limited to financial responsibility and planning skills, money management skills, and decision-making skills.
The Iowa Core identifies the essential concepts and skill sets for literacy, mathematics, science and social studies, as well as 21st century learning skills (civic literacy, financial literacy, technology literacy, health literacy, and employability) that must be embedded throughout the local curriculum (Source - How the Iowa Education System Works, Iowa Dept of Ed)
Links to State Bills S.F. 2216 Signed by governor 5/1/08, Chapter 1127 
Additional Links  
Stand-Alone Personal Finance Standards YES Iowa Core Curriculum, K-12, 21st Century Skills High School (9-12) - Financial Literacy Essential concepts and skills: Demonstrate financial responsibility and planning skills to achieve financial goals for a lifetime of financial health; Manage money effectively by developing spending plans and selecting appropriate financial instruments to maintain positive cash flow; Make informed and responsible decisions about incurring and repaying debt to remain both creditworthy and financially secure; Evaluate and identify appropriate risk management options, including types of insurance, non-insurance, and identity protection; Assess the value, features, and planning processes associated with savings, investing, and asset building, and apply this knowledge to achieve long-term financial security with personal and entrepreneurial goals in a global market; Understand human, cultural, and societal issues related to financial literacy, and practice legal and ethical behavior. (Refer to S.F. 2216 Signed by governor 5/1/08, Chapter 1127
S.S.B. 3097 Became S.F. 2216 2/21/08)
Personal Finance Standards in Career and Techical Education (CTE), Family and Consumer Sciences NO
Personal Finance Embedded in Social Studies or Economics Standards YES Iowa Core, K-12 Social Studies Essential Concept and/or Skill: Understand the function of common financial instruments; Understand the cost of borrowing money over long periods of time; Understand the concept of insurance; Understand credit cards; Understand the role of personal taxes in society; Understand different financial investments, such as mutual funds, stocks and bonds; Understand saving for retirement.
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
Personal Finance Course Required for Graduation  NO
Personal Finance Content required in Economics or Other Course Required for Graduation   NO Iowa does not require personal finance or economics course for graduation.
Prescribed or Recommended Personal Finance Curriculum  YES State offers extensive curriculum.
State Requires Economic Reasoning /Thinking Skills  YES Common Core.
State Standard Correlated with Jump$tart Financial Literacy Standard NO
State Assessment of Personal Finance Required  NO
Financial Literacy Bills Currently Being Considered by the State Legislature H.F. 148 adds one-half unit of personal finance literacy to the educational program standards established for school districts and accredited nonpublic schools and makes an appropriation.
Financial Literacy Education Bills Signed by Governor and/or Passed by the House and Senate  2008 S.F. 2216 Signed by governor 5/1/08, Chapter 1127
S.S.B. 3097 Became S.F. 2216 2/21/08
Requires the state board of education to adopt rules establishing a core curriculum which school districts and accredited nonpublic schools must adopt before the start of the 2010-2011 school year for grades nine through 12 and before the start of the 2014-2015 school year for kindergarten through grade eight. The bill also requires a timeline for successful completion of core curriculum plans for students and provides for a core curriculum study by the department of education. Under current Code, the core curriculum must include ""financial literacy"", which the bill defines as including but not limited to financial responsibility and planning skills, money management skills, and decision-making skills.
State Appropriations and State Dept Education Funding for K-12 NO 
Established Financial Literacy Month YES April 2005, Passed House and Senate, Designates April 2005 as Financial Literacy for Youth Month in Iowa.