Maine

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

State Department of Education Link http://www.maine.gov/doe/  
Legislation and Authorization 2013 L.D. 843 Current law requires the commissioner of Education to develop a program of technical assistance that promotes the importance of financial literacy and encourages school administrative units to implement an integrated model for instruction in personal finance that may be used in secondary schools as part of the instruction in social studies or mathematics. This bill amends the system of learning results to require each student to study and become proficient in personal finance, including instruction in purchasing, using credit, budgeting, saving and investing, banking, simple contracts, state and federal income taxes, personal insurance policies and renting or purchasing a home. The bill takes effect beginning with the 2014-2015 school year and requires all secondary schools to include the personal finance course as part of the mathematics instruction required to obtain a high school diploma.
Links to State Bills L.D. 184
Additional Links  
Stand-Alone Personal Finance Standards NO
Personal Finance Standards in Career and Techical Education (CTE), Family and Consumer Sciences NO
Personal Finance Embedded in Social Studies or Economics Standards YES Minor amount of personal finance content in Social Studies Common Core
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 NO 
Personal Finance Course Required for Graduation   NO
Personal Finance Content required in Economics or Other Course Required for Graduation   NO Maine does not require personal finance or economics for graduation.
Prescribed or Recommended Personal Finance Curriculum  NO
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 L.D. 843. Current law requires the Commissioner of Education to develop a program of technical assistance that promotes the importance of financial literacy and encourages school administrative units to implement an integrated model for instruction in personal finance that may be used in secondary schools as part of the instruction in social studies or mathematics. This bill amends the system of learning results to require each student to study and become proficient in personal finance, including instruction in purchasing, using credit, budgeting, saving and investing, banking, simple contracts, state and federal income taxes, personal insurance policies and renting or purchasing a home. The bill takes effect beginning with the 2014-2015 school year and requires all secondary schools to include the personal finance course as part of the mathematics instruction required to obtain a high school diploma.
Financial Literacy Education Bills Signed by Governor and/or Passed by the House and Senate  L.D. 113 became law without the governor’s signature on 3/20/13, Chapter 4 of this bill makes changes to the Maine College Savings Program, also known as NextGen or the NextGen College Investing Plan, by adding financial education to the list of permissible program fund uses.
L.D. 184 signed by governor 5/26/11 in Chapter 154 requires the education commissioner to develop a program of technical assistance that promotes the importance of financial literacy and encourages school administrative units to implement an integrated model for instruction in personal finance that may be used in secondary schools as part of the instruction in social studies or mathematics required by §4722, subsection 2, paragraphs B and C.
Signed by the governor on 6/9/09, Resolve Chapter 105 directs the Department of Education to amend its rules concerning the system of learning results to add family and consumer science to be implemented into the curriculum that is based on national standards in the state and local family and consumer science stakeholders groups. The curriculum must include the subjects of foods and nutrition, consumer economics and resource management, and family and human development. The Department of Education shall seek all available outside funding, including grants, to incorporate the requirements of this resolve.
State Appropriations and State Dept Education Funding for K-12 NO 
Established Financial Literacy Month N/A