Bill
HB 2594
Illinois high schools must require a stand-alone personal finance course for all students in grades 11–12 starting with 9th graders entering in 2028–29.
Purpose
- Requires Illinois public high schools to offer and require a stand‑alone, one‑semester (or equivalent) personal finance course for each student in grade 11 or 12, beginning with the cohort that enters 9th grade in the 2028–2029 school year. The bill aims to improve financial literacy by making personal finance a distinct graduation requirement rather than embedding it within other coursework.
Key provisions and requirements
- Course timing and scope: Beginning with pupils who enter 9th grade in 2028–29, students in grade 11 or 12 must complete a stand‑alone one‑semester (or equivalent) course in personal finance prior to receiving a high school diploma.
- Required topics: The course must include instruction on (examples listed in bill): behavioral economics; banking and bill payment; budgeting; saving and investing; credit and credit scoring; types of credit; paying for college; loans and student loan issues; insurance; taxes; consumer skills; retirement planning (including tax‑advantaged plans); home ownership and financing; leasing. The State Board may adopt or adapt national personal finance education standards.
- Standards and oversight: The State Board of Education is responsible for devising or approving the personal finance standards and for developing implementation guidelines and timelines. Local school boards must oversee implementation at each high school.
- Financial Literacy Implementation Committee: The State Board must establish a Financial Literacy Implementation Committee by June 30, 2025 to make implementation recommendations to the State Superintendent. The bill specifies committee membership (State Superintendent as chair, Director of K–12 Curriculum & Instruction, one appointee from the State Treasurer, appointed members representing labor, school districts, and other stakeholders) and requires the Board to report regularly to the Committee. Committee members serve until July 1, 2028.
- Funding and incentives: School boards may create a special fund to receive public or private contributions for financial literacy. Funds may be used for teacher training, rewards for financial literacy competitions, instructional materials, field trips, computers, etc.
Who is affected
- Primary: Illinois public high school students (especially the cohort entering 9th grade in 2028–29), local school districts, teachers who will need to deliver the new course, and the State Board and State Superintendent (for standards and implementation).
- Secondary: Teacher professional development providers, community or private partners that may contribute funding, and institutions involved in curriculum adoption.
Implementation timeline and procedural status
- Committee deadline: Financial Literacy Implementation Committee to be established by June 30, 2025. Committee members serve through July 1, 2028.
- Course cohort: Requirement applies to students entering 9th grade in 2028–29 (course completed in 11th or 12th grade).
- Legislative status (from provided actions): Passed both chambers, signed by the Governor (June 20, 2025) and shown as effective 9/1/2025 in the legislative actions. (Note: some text in the file references other states’ bill numbering and earlier versions; the summary above reflects the personal finance education provisions as described.)
Potential impacts and considerations
- Districts will need to develop or adopt curriculum, schedule instructional time, hire or train teachers, and possibly reallocate credits.
- There will be short‑term costs for curriculum development and teacher professional development; districts may use the special fund or seek state/local funding.
- The State Board and Implementation Committee will play key roles in smoothing rollout and providing guidance to districts.
Compiled from official sources — confirm details with the bill’s official record.
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