South Carolina requires financial literacy education for public school students. The state has 57 financial literacy standards spanning 10 topic areas, covering grades K-5, 6-8, 9-12.
Last updated: March 2026
Does South Carolina Require Financial Literacy Education?
Yes. South Carolina requires financial literacy instruction for public school students. South Carolina requires financial literacy education as part of its social studies and career and financial literacy standards. The state emphasizes personal financial responsibility, budgeting, credit, and investing across grade levels.
Mandate Details
- Status
- required
- Standalone Course
- No
- Grade Levels
- K-5, 6-8, 9-12
Key Agencies
What Are South Carolina's Financial Literacy Standards?
South Carolina has 57 financial literacy standards organized across 10 topic areas. These topics range from Credit & Debt Management and Banking & Financial Services to Budgeting & Money Management, covering the full spectrum of personal finance education.
How South Carolina School Districts Adopt Financial Literacy Curriculum
South Carolina is a state adoption state, meaning curriculum must appear on a state-approved list before districts can purchase it with state funds. South Carolina maintains a state-level adoption system where textbooks and instructional materials must be selected from an approved state adoption list for K-12 public schools.
Purchasing Process
The South Carolina Department of Education and Workforce (SCDEW) maintains adoption lists for core subject areas. Districts select materials from these approved lists rather than conducting independent RFPs, though some flexibility exists for supplemental materials.
Decision Level
The state establishes adoption lists and sets curriculum standards, but individual school districts make final selection decisions from the approved state list. Districts have autonomy in choosing which approved materials to purchase.
Textbook Adoption Cycle
6 years
Mathematics, English Language Arts, Science, Social Studies, Career and Financial Literacy
South Carolina operates on a rotating adoption cycle with different subject areas reviewed on staggered schedules. Districts may purchase from current adoption lists until materials are replaced by newer adoptions.
Cooperative Purchasing Options
Curriculum That Meets South Carolina's Financial Literacy Standards
Districts looking for a standards-aligned financial literacy curriculum can use iKnowFi Academy — a self-paced, online platform built on the Absorb LMS that maps directly to South Carolina's learning objectives. iKnowFi Academy covers 51 of 57 standards (89.5% coverage) across 9 courses.
South Carolina Standards Coverage
89.5%Aligned Courses
Borrowing Money
Establishing Credit
Financial Building Blocks
Financial Preparation and Recovery
Managing Your Debt
Managing Your Money
The Importance of Saving
Using Credit Cards
Your Financial Future
South Carolina's Financial Literacy Standards & iKnowFi Academy Alignment
All 57 standards — 51 covered by iKnowFi Academy.
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| D.1 | Identify types and sources of credit/debt (e.g., credit card, auto loans/leases, mortgages, student loans). | 9-12 | Borrowing Money |
| D.2 | Evaluate the costs and benefits of using credit, including interest rates, terms, fees and their effect on credit scores. | 9-12 | Borrowing Money |
| D.3 | Explain how the components of a credit score and a credit profile are determined. | 9-12 | Establishing Credit |
| D.4 | Explain consumers' rights and responsibilities and the process for disputing billing errors using various consumer protection laws. (e.g., Fair Credit Reporting Act, bankruptcy, Equal Credit Opportunity Act) | 9-12 | Establishing Credit |
| D.5 | Identify high risk strategies for repayment and ways to avoid financial pitfalls (e.g., payday loans, over-extended credit, and bankruptcy). | 9-12 | Borrowing Money |
| D.6 | Complete a loan application and evaluate an amortization schedule. | 9-12 | Borrowing Money |
| D.7 | Calculate payment schedules for a loan using spreadsheets, calculators, and/or online tools. | 9-12 | Borrowing Money |
| E.6 | Evaluate the characteristics of different types of student loans and their various repayment options. | 9-12 | Managing Your Debt |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| C.1 | Evaluate the services offered at various financial institutions. | 9-12 | Managing Your Money |
| C.2 | Explain methods used for opening and managing checking and savings accounts. | 9-12 | Managing Your Money |
| C.3 | Identify the components of a bank statement. | 9-12 | Using Credit Cards |
| C.5 | Describe different fees and incentives that may be associated with online, mobile, and traditional banking. | 9-12 | Managing Your Money |
| C.6 | Explain how Internet access and technology have impacted banking services. | 9-12 | Managing Your Money |
| C.7 | Differentiate among types and regulations of electronic monetary transactions (e.g., e-checks, EFT). | 9-12 | Managing Your Money |
| C.8 | Compare modern payment services between parties (e.g., Peer 2 Peer, digital wallet). | 9-12 | Managing Your Money |
| C.4 | Reconcile a checking account. | 9-12 | — |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| B.1 | Define the principles of insurance and fundamental insurance terminology (e.g., claim, beneficiary, deductible, policy, premium, insured). | 9-12 | Financial Preparation and Recovery |
| B.2 | Describe risk management methods: risk avoidance, reduction, assumption, and transfer. | 9-12 | Financial Preparation and Recovery |
| B.7 | Investigate the features and benefits of other insurance products, including renters, long-term disability, and liability. | 9-12 | Financial Preparation and Recovery |
| G.8 | Explain the roles of insurance in financial planning. | 9-12 | Financial Preparation and Recovery |
| B.3 | Explain personal auto policy terms and features (e.g., liability, deductible, comprehensive, collision, underinsured, uninsured). | 9-12 | — |
| B.4 | Analyze how risk and other factors affect insurance premiums (e.g., driving record, driver's age, type of vehicle, coverage limits). | 9-12 | — |
| B.5 | Identify the purpose and features of health insurance (e.g., copay, covered/non-covered expenses, deductible, medical expenses, out-of-pocket costs, pre-existing condition). | 9-12 | — |
| B.6 | Compare different types of life insurance products (e.g., term, whole life, variable life). | 9-12 | — |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| F.1 | Define basic tax terminology (e.g., taxable income, tax credits, exemptions, deductions, itemized deductions, inheritance/estate, withholdings). | 9-12 | Financial Preparation and Recovery |
| F.2 | Explain the purposes and types of taxes at various levels of government in the United States. | 9-12 | Financial Preparation and Recovery |
| F.3 | Compute local taxes on products and services. | 9-12 | Financial Preparation and Recovery |
| F.4 | Analyze tax forms and their purpose, to include W-2, 1099, W-4, and I-9 forms. | 9-12 | Financial Building Blocks |
| F.5 | Evaluate how taxes, government transfer payments, and employee benefits relate to disposable income. | 9-12 | Financial Building Blocks |
| F.6 | Compute gross earnings, payroll deductions, and net pay. | 9-12 | Financial Building Blocks |
| F.7 | Demonstrate how to fill out and file a federal and/or state individual income tax return. | 9-12 | Financial Preparation and Recovery |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| E.1 | Compare the various costs associated with post-secondary education or training. | 9-12 | Your Financial Future |
| E.2 | Identify sources of financial aid. | 9-12 | Your Financial Future |
| E.3 | Explain how to apply for financial aid for post-secondary education and training. | 9-12 | Your Financial Future |
| E.4 | Compare the impact of various education funding options (e.g., scholarships, grants, loans, work-study) on net cost. | 9-12 | Your Financial Future |
| E.5 | Analyze the FAFSA (Free Application for Federal Student Aid) process and its impact on student financial aid. | 9-12 | — |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| E.7 | Describe investment options to pay for post-secondary education costs (e.g., 529 Plan, Coverdell). | 9-12 | Your Financial Future |
| G.1 | Define basic investment concepts (e.g., stocks, bonds, mutual funds, Rule of 72, simple and compound interest). | 9-12 | Your Financial Future |
| G.2 | Explain the relationship between risk and the rate of return and the importance of risk management. | 9-12 | Your Financial Future |
| G.7 | Develop a personal investment portfolio. | 9-12 | Your Financial Future |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| A.1 | Explain the importance of taking responsibility for personal financial decisions. | 9-12 | Managing Your Money |
| A.2 | Apply decision-making skills to make personal financial choices. (e.g., needs and wants, cost-benefit analysis, SMART Goals). | 9-12 | The Importance of Saving |
| G.3 | Identify funding requirements for different stages of life (e.g., post-secondary, parenthood, housing, retirement). | 9-12 | Your Financial Future |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| A.3 | Apply strategies for making informed purchasing decisions. | 9-12 | Managing Your Money |
| A.5 | Analyze how social media marketing is designed to encourage spending. | 9-12 | Managing Your Money |
| A.6 | Investigate methods to safeguard financial information against technology-based attacks (e.g., privacy infringement, identity theft, fraud). | 9-12 | Financial Preparation and Recovery |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| G.4 | Analyze the impact of Social Security benefits on retirement planning. | 9-12 | Your Financial Future |
| G.5 | Differentiate types of long-term retirement investments (e.g., Roth and traditional IRA's, 403(B), 401(K), defined-benefit plans, annuities, and target date funds). | 9-12 | Your Financial Future |
| G.6 | Describe types and purposes of estate planning (wills, trusts, gifts, and charitable contributions). | 9-12 | Financial Preparation and Recovery |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| A.2 | Apply decision-making skills to make personal financial choices. (e.g., needs and wants, cost-benefit analysis, SMART Goals). | 9-12 | Managing Your Money |
| A.4 | Describe the importance of budgeting. | 9-12 | Financial Building Blocks |
South Carolina Financial Literacy FAQ
Yes. South Carolina requires financial literacy instruction.
South Carolina requires financial literacy education as part of its social studies and career and financial literacy standards. The state emphasizes personal financial responsibility, budgeting, credit, and investing across grade levels.
South Carolina's financial literacy requirement is established by S. 16 (2021-2022 session, 124th General Assembly), codified as S.C. Code § 59-29-17. Effective 2022.
Requires each student attending a public high school, including charter schools, to complete a one-half credit standalone course in basic personal finance as a graduation requirement, with standards developed by the Department of Education in collaboration with the Commission on Higher Education, Council for Economics, and Financial Literacy Board of Trustees.
South Carolina's financial literacy standards apply to grades K-5, 6-8, 9-12. Standards are integrated into existing coursework.
South Carolina has 57 financial literacy standards spanning 10 topic areas including Credit & Debt Management, Banking & Financial Services, Income & Taxes, Saving & Investing, Insurance & Risk Management.
South Carolina's 57 standards are organized across 10 topics: Credit & Debt Management, Banking & Financial Services, Income & Taxes, Saving & Investing, Insurance & Risk Management, Education & Career Planning, Financial Planning & Goal Setting, Consumer Skills & Protection, Retirement & Estate Planning, Budgeting & Money Management.
South Carolina uses a state adoption process. Districts select from a state-approved vendor list.
The South Carolina Department of Education and Workforce (SCDEW) maintains adoption lists for core subject areas. Districts select materials from these approved lists rather than conducting independent RFPs, though some flexibility exists for supplemental materials.
iKnowFi Academy covers 51 of South Carolina's 57 financial literacy standards (90% coverage) across 9 self-paced online courses.
Each course is aligned to South Carolina's specific learning objectives, built on the Absorb LMS, and includes built-in assessments. Teachers assign them and students work independently.
Get Your Free South Carolina Standards Alignment Report
See exactly how iKnowFi Academy maps to each of South Carolina's 57 financial literacy standards — standard by standard, module by module.
- 51 of 57 standards covered
- 9 self-paced courses, ready to assign
- Built-in assessments and progress tracking
- No schedule changes needed — students work independently
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