Fund professional certification for financial literacy instructors.

 

bill for an act to establish a Certified Financial Education Grant Program to fund teacher training and certification

necessary for the new half-credit high school financial literacy graduation requirement.

 

The State of Minnesota has recognized a critical need by passing legislation mandating a half-credit personal finance

course for all high school graduates, a necessary step given that 65% of all Bachelor's degree recipients in Minnesota

graduate with student loan debt.

However, simply mandating a course is not enough; the quality of instruction must be guaranteed. Research shows that the

effectiveness of financial education is highly dependent on being delivered by well-trained educators using a quality

curriculum.

Ensuring Quality Instruction: Prior to the new law, Minnesota students received an estimated 9 to 10 hours of fragmented

personal finance instruction. The success of the new half-credit requirement hinges on ensuring teachers are subject

matter experts, not just educators covering the topic in addition to other duties.

Addressing Cost Barriers: While organizations like the Minnesota Council on Economic Education (MCEE) provide

certification, the costs associated with training, coursework, and certification fees can be prohibitive for individual

teachers and local school districts.

Maximizing State Investment: This $1.5 million appropriation is a modest investment in human capital that maximizes the

state's existing investment in the new financial literacy mandate. By certifying teachers, we ensure every student

across Minnesota receives the consistent, high-impact instruction needed to reduce their future reliance on

high-interest debt and improve long-term financial stability.

The Certified Financial Education Act is a proactive measure designed to ensure Minnesota's new graduation requirement

successfully produces financially literate graduates, which is an essential foundation for the economic health of the

entire state.

 

1. Applicability. The definitions in this section apply to this act.

2. Certification. "Certification" means the process of an educator demonstrating competence to teach personal finance

through the successful completion of coursework, an exam, or a combination thereof, provided by a state-approved

third-party organization such as the Minnesota Council on Economic Education (MCEE).

3. Department. "Department" means the Minnesota Department of Education (MDE).

4. Financial Literacy Requirement. "Financial Literacy Requirement" means the mandatory half-credit standalone personal

finance course required for graduation from a Minnesota public high school for students entering ninth grade in the

2024-2025 school year and thereafter, pursuant to Minnesota Statutes.

5. Program. "Program" means the Personal Finance Teacher Certification Grant Program established in Section 1,

Subdivision 2.

 

Subdivision 1. Funding Source and Amount. The sum of $1,500,000 is hereby appropriated from the state's General Fund for

Fiscal Year 2026.

Subdivision 2. Allocation of Funds. The entire sum appropriated in Subdivision 1 shall be allocated to the Minnesota

Department of Education (MDE) for the specific purpose of establishing and operating the Personal Finance Teacher

Certification Grant Program established in Section 1.

Subdivision 3. Use of Funds. Funds shall be used exclusively to reimburse school districts and charter schools for the

costs of professional development, training, and certification fees associated with training educators to teach the

Financial Literacy Requirement.

 

Subdivision 1. Program Compliance. The Minnesota Department of Education (MDE) shall ensure that all grant funds

disbursed under this act are used solely for the costs directly related to teacher professional development and

certification for the Financial Literacy Requirement, as defined in Section 3.

Subdivision 2. Grant Misuse. Any school district or charter school found to have knowingly misused funds provided under

the Program shall be required to repay the misused amount to the MDE. The MDE shall recoup these funds from the

district’s subsequent general education aid payments.

Subdivision 3. Enforcement. The Commissioner of the Department of Education is authorized to establish any

administrative rules necessary to audit the use of grant funds and enforce the provisions of this act.

 

This act is effective July 1, 2026.