Home » State Activities » State Financial Education Requirements » State Requirements - Illinois

State Requirements - Illinois

2006 IL SB 2191 / Public Act 094-0929

SB 2191 Enrolled - Effective 6/26/2006 - Public Act 094-0929. Pupils in the public schools in grades 9 through 12 shall be taught and be required to study courses which include instruction in the area of consumer education, including but not limited to (i) understanding the basic concepts of financial literacy, including installment purchasing (including credit scoring, managing credit debt, and completing a loan application), budgeting, savings and investing, banking (including balancing a checkbook, opening a deposit account, and the use of interest rates), understanding simple contracts, State and federal income taxes, personal insurance policies, and the comparison of prices, and (ii) an understanding of the roles of consumers interacting with agriculture, business, labor unions and government in formulating and achieving the goals of the mixed free enterprise system.

ILLINOIS STATE HIGH SCHOOL GRADUATION REQUIREMENTS (105 ILCS 5/27-22, 27-22.05, 27-22.10). Each student shall be required to take consumer education for 50 minutes per day for a period of nine weeks in any of grades 9-12, unless he or she has demonstrated proficiency pursuant to the provisions of Section 27-12.1 of the School Code [105 ILCS 5/27-12.1] and Section 1.462 of this Part.

Status Description:
Financial Literacy Topics provided within Consumer Education Curriculum Required for High School Graduation.

  Consumer Education Mandates
  Social Science / Economics Goal 15
  Financial Literacy Resources
  SB 2191 BILL / ACT 094-0929
  Graduation Requirements Revised 2007
  Graduation Requirements FAQ
  Graduation Guidance Document
  IL SB 2387