On June 29, 2024, Governor Newsom signed AB 2927into law to add a stand-alone course in personal finance to high school graduation requirements. California public schools, including charters, are required to begin offering the course starting the 2027-2028 school year.
With less than a year to go before the requirement goes into effect, Joshua Mitton, our Chief Program Officer, is breaking down everything educators need to know now.
What does AB 2927 require?
On June 29, 2024, Governor Newsom signed AB 2927, adding a standalone, one-semester course in personal finance to California's high school graduation requirements. The course is not grade specific and may be offered at any point in grades 9-12, but it must stand on its own; it may not be combined with any other course.
When does the graduation requirement go into full effect?
The legislation specifies that students graduating in the 2030-31 school year must take the one-semester, standalone personal finance course in order to graduate. The law also mandates that districts and charter schools must begin offering the course (at least one section) beginning in the 2027-28 school year.
What are the 13 required topics?
The course must include, but is not limited to, the following topics:
Fundamentals of banking for personal use, including savings and checking and managing to minimize fees.
Principles of budgeting for independent living.
Employment and understanding factors that affect net income, including the topics described in subdivision (a) of EC Section 49110.5.
Uses and effects of credit, including managing credit scores and the relation of debt and interest to credit.
Uses and costs of loans, including student loans, as well as policies that provide student loan forgiveness.
Types and costs of insurance, including home, auto, health, and life insurance.
Impacts of the tax system, including its impact on personal income, the process to file taxes, and how to read tax forms and pay stubs.
Principles of investing and building wealth, including investment alternatives to build financial security, such as tax-advantaged investments (pensions, 401(k) plans, and IRAs) as well as stocks, bonds, mutual funds, and index funds.
Enhancing consumer protection skills by raising awareness of common scams and frauds and preventing identity theft.
Identifying means to finance college, workforce education, low-cost community college options, and other career technical educational pathways or apprenticeships, including scholarships, merit aid, and student loans.
Understanding how psychology can impact one's financial well-being.
Charitable giving.
Other topics that are directly and specifically relevant to personal finance.
Are there California personal finance standards?
The legislation provides content guidance in the form of the 13 topics above, but it does not itself establish standards, nor does it call for the creation of standards. The state Personal Finance Curriculum Guide references Common Core State Standards across several disciplines and the National Standards for Personal Finance Education, and it translates the 13 required topics and these collective standards into student learning outcomes.
What grade does the course fall into?
The legislation does not specify a grade level. The state Curriculum Guide offers guidance on this, including suggestions for courses that pair well with the one-semester personal finance course at different points in a student's high school sequence.
Can this course be combined with another course?
No. The legislation is clear that the course must be a one-semester, standalone course (it may be expanded to a full year, but it may not be a hybrid or cross-listed course with any other subject). The state Curriculum Guide does encourage the organic inclusion of fundamental economics concepts related to decision-making where they enhance the personal finance content, but that is enrichment within the course, not a combination of subjects.
Do students still have to take an economics course?
On June 27, 2025, Governor Newsom signed an amendment providing that "a local educational agency may exempt a pupil who completes a separate, stand-alone one-semester course in personal finance, that is not combined with any other course, from the requirement to complete a one-semester course in economics." This exemption is voluntary and not automatic; the decision rests with each district. The state Curriculum Guide urges districts to weigh the importance of economics carefully before exercising this option. What I encourage educators to remember is that so much of personal finance is applied economics.
How does this new course impact A-G requirements for students?
A-G requirements are generally aligned with the state graduation requirements, but they are not the same thing. A-G requirements are the minimum course pattern for freshman admission to UC and CSU campuses, and a course only counts toward A-G if it has been submitted by the school and approved by the University of California for the school's A-G course list. Adding personal finance to the graduation requirements does not automatically make any school's personal finance course A-G approved. Personal finance courses can earn A-G approval, typically in area G (college-preparatory elective), and the state Curriculum Guide strongly recommends that schools submit their course for approval; the guide walks through the submission options in detail.
Who can teach the course?
Teachers who hold a California credential in Social Science, Business, Mathematics, or Home Economics are authorized to teach the course.
What should teachers do to prepare?
Start with the state Personal Finance Curriculum Guide, and connect with the administrators and curriculum leads in your district to help shape how the requirement is implemented locally. Teachers may also consider professional learning opportunities from the many reputable organizations working in personal finance education.
What state resources are available to support implementation?
The State Board of Education adopted a Personal Finance Curriculum Guide on March 11, 2026, as required under AB 2927. The guide is not a course outline or a prescribed way to teach; it was developed to support educators, administrators, curriculum specialists, and district leaders as they implement the new requirement. It remains up to each district to determine how much time to dedicate to each required topic and how to present the content in a way that makes sense for their students.
How is CCEE supporting educators and districts?
CCEE is approaching this in multiple ways. We are working directly with districts to identify best practices for implementation, both around the course itself and the professional learning that supports it. We are also providing direct-to-teacher programming, including a Personal Finance Institute covering all 13 required topics; registration is now open for the first cohort that will be at the end of August. Additionally, CCEE will publish the California Personal Finance Instructional Toolkit (CAPFIT), which includes a pacing guide organizing existing high-quality lessons into an ordered instructional framework, along with a companion teacher guide that helps teachers easily adapt the plan to their own situation.
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