Indiana requires financial literacy education for public school students, with mandates effective since 2024. The state has 63 financial literacy standards spanning 16 topic areas, covering grades K-5, 6-8, 9-12.

Last updated: March 2026

63 Standards
16 Topic Areas
required Mandate Status
K-5, 6-8, 9-12 Grade Levels

Does Indiana Require Financial Literacy Education?

Yes. Indiana requires financial literacy instruction for public school students. Indiana requires K-12 students to receive financial literacy instruction. Effective 2024, students must complete financial literacy standards integrated into social studies, mathematics, and other subject areas by graduation.

Mandate Details

Status
required
Effective Year
2024
Standalone Course
No
Grade Levels
K-5, 6-8, 9-12
Legislation
SB 35 / SEA 35 (2023) (May 4, 2023 (signed by Governor Eric Holcomb; effective for Class of 2028))

Key Agencies

Indiana Department of Education and Workforce (IDOE)
Sets academic standards and financial literacy requirements; does not manage instructional material adoption
Indiana Charter Schools Network
Represents charter schools with independent procurement authority
What this means for districts: Schools must adopt curriculum that aligns to Indiana's 63 financial literacy standards. Districts need to verify that their chosen curriculum maps to these specific requirements.

What Are Indiana's Financial Literacy Standards?

Indiana has 63 financial literacy standards organized across 18 topic areas. These topics range from Financial Decision-Making & Behavior and Credit & Debt to Entrepreneurship, covering the full spectrum of personal finance education.

8 standards
Financial Decision-Making & Behavior
8 covered
8 standards
Credit & Debt
8 covered
8 standards
Investing
8 covered
6 standards
Insurance & Risk Management
4 covered 2 gaps
5 standards
Consumer Protection & Fraud
4 covered 1 gap
5 standards
Budgeting & Cash Flow
4 covered 1 gap
3 standards
Saving
3 covered
3 standards
Banking & Payments
3 covered
3 standards
Financial Systems & Regulation
1 covered 2 gaps
2 standards
Identity Theft & Cyber Safety
2 covered
2 standards
Earning Income
2 covered
2 standards
Postsecondary Financing
2 covered
2 standards
Retirement Planning
2 covered
2 standards
Employment & Benefits
0 covered 2 gaps
1 standard
Net Worth & Wealth Building
1 covered
1 standard
Housing & Mortgages
1 covered
1 standard
Taxes
1 covered
1 standard
Entrepreneurship
0 covered 1 gap

How Indiana School Districts Adopt Financial Literacy Curriculum

Indiana is an open territory state, meaning individual districts have the authority to select and purchase curriculum directly without state-level approval. Indiana abolished mandatory state textbook adoption in 2011 and transitioned to an open territory model where districts have autonomy to select instructional materials.

Purchasing Process

Individual K-12 districts make their own procurement decisions for instructional materials without state-mandated adoption lists. Districts may use RFP processes, cooperative purchasing, or direct vendor engagement.

Decision Level

School corporations and charter schools in Indiana have full authority to select and purchase educational materials. The state does not impose adoption requirements or timelines.

Cooperative Purchasing Options

E&I Cooperative Purchasing Purchasing Cooperative of Indiana (PCI) Indiana School Corporation Services (ISCS) Metropolitan Indianapolis Public Schools Consortium

Curriculum That Meets Indiana'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 Indiana's learning objectives. iKnowFi Academy covers 54 of 63 standards (85.7% coverage) across 10 courses.

Indiana Standards Coverage

85.7%
54 of 63 standards covered 10 courses

Aligned Courses

Borrowing Money

2 modules · 2 standards aligned

Establishing Credit

3 modules · 3 standards aligned

Financial Building Blocks

3 modules · 7 standards aligned

Financial Preparation and Recovery

3 modules · 10 standards aligned

Making Housing Decisions

1 module · 1 standard aligned

Managing Your Debt

2 modules · 3 standards aligned

Managing Your Money

3 modules · 9 standards aligned

The Importance of Saving

2 modules · 4 standards aligned

Using Credit Cards

1 module · 1 standard aligned

Your Financial Future

3 modules · 14 standards aligned

Indiana's Financial Literacy Standards & iKnowFi Academy Alignment

All 63 standards — 54 covered by iKnowFi Academy.

Financial Decision-Making & Behavior 8/8 covered
ID Standard Grade iKnowFi Academy Course
PFR-1.1 Explain how individuals demonstrate responsibility for financial well-being over a lifetime. 9-12 Managing Your Money
PFR-1.1 Analyze ways financial responsibility is different for individuals with and without dependents. 9-12 Your Financial Future
PFR-1.4 Set measurable short-term, medium-term, and long-term financial goals. 9-12 Managing Your Money
PFR-1.4 Evaluate the results of financial decisions. 9-12 Financial Building Blocks
PFR-1.4 Apply systematic decision making to long-term goals. 9-12 The Importance of Saving
PFR-1.5 Compare and contrast the benefits of sharing financial goals and personal finance information with a potential partner before forming a partnership 9-12 Managing Your Money
PFR-3.4 Evaluate impact of external factors (such as marketing, advertising and the economy) on spending decisions 9-12 Managing Your Money
PFR-3.4 Justify consumer buying decisions by evaluating external factors 9-12 Managing Your Money
Credit & Debt 8/8 covered
ID Standard Grade iKnowFi Academy Course
PFR-4.1 Evaluate the cost of borrowing a set amount of money using various types of credit 9-12 Borrowing Money
PFR-4.1 Explain how grace periods, methods of calculating interest, and fees affect borrowing costs 9-12 Using Credit Cards
PFR-4.1 Apply systematic decision making to identify the most cost-effective option for making a purchase 9-12 Borrowing Money
PFR-4.2 Analyze the effect of positive and negative credit report s on credit worthiness 9-12 Establishing Credit
PFR-4.2 Illustrate steps to overcome a negative credit report and improve a personal financial future 9-12 Establishing Credit
PFR-4.3 Analyze actions that a consumer can take to reduce or better manage excessive debt 9-12 Managing Your Debt
PFR-4.4 Analyze online and printed resources for up-to-date information about consumer credit rights 9-12 Establishing Credit
PFR-4.4 Describe debtors' and creditors’ rights related to debt that is not paid 9-12 Managing Your Debt
Investing 8/8 covered
ID Standard Grade iKnowFi Academy Course
PFR-6.2 Compare various investing strategies for their potential to build wealth 9-12 Your Financial Future
PFR-6.2 Analyze investment possibilities utilizing principles of time value of money and opportunity costs 9-12 Your Financial Future
PFR-6.2 Calculate the end value of lump sum and periodic investments 9-12 The Importance of Saving
PFR-6.3 Analyze the characteristics (such as earnings, risks, liquidity) and benefits of various saving and investment options in the current economy 9-12 Your Financial Future
PFR-6.3 Analyze investment alternatives utilizing principles of inflation and other economic factors 9-12 Your Financial Future
PFR-6.4 Compare advantages and disadvantages of buying and selling investments through various channels, including financial advisors, investment clubs, and online brokers 9-12 Your Financial Future
PFR-6.4 Compare the investment objectives and historical rates of return of various investment options 9-12 Your Financial Future
PFR-6.5 Analyze the rate of return on investments using time value of money and economic conditions as factors 9-12 Your Financial Future
Insurance & Risk Management 4/6 covered
ID Standard Grade iKnowFi Academy Course
PFR-5.2 Analyze the types and amounts of coverage, and features needed, for various stages of life for health, property, life, disability, and liability insurance 9-12 Financial Preparation and Recovery
PFR-5.2 Analyze factors that can reduce or increase the amount and type of insurance coverage needed. 9-12 Financial Preparation and Recovery
PFR-5.2 Analyze factors that affect cost of insurance for various types of insurance 9-12 Financial Preparation and Recovery
PFR-5.3 Recommend insurance that protects one from the risks a young adult might face 9-12 Financial Preparation and Recovery
PFR-5.1 Describe ways people can manage risk through avoidance, reduction, retention, assumption, and transfer of risk 9-12 —
PFR-5.3 Compare various programs that provide financial assistance for income loss due to illness, disability, or premature death 9-12 —
Consumer Protection & Fraud 4/5 covered
ID Standard Grade iKnowFi Academy Course
PFR-1.2 Analyze financial information for objectivity, accuracy, relevancy to given needs, and currency. 9-12 Financial Preparation and Recovery
PFR-1.2 Investigate current types of consumer fraud, including online scams. 9-12 Financial Preparation and Recovery
PFR-1.3 Analyze consumer protection laws for the issues they address and the safeguards they provide. 9-12 Financial Preparation and Recovery
PFR-1.3 Demonstrate steps for resolving a consumer complaint. 9-12 Managing Your Debt
PFR-1.3 Describe services of Indiana's consumer protection agency and its benefits to consumers 9-12 —
Budgeting & Cash Flow 4/5 covered
ID Standard Grade iKnowFi Academy Course
PFR-3.1 Create a basic budget with categories for income, taxes, planned savings, and fixed and variable expenses 9-12 Financial Building Blocks
PFR-3.1 Analyze and adjust budget categories to manage spending and achieve financial goals 9-12 Financial Building Blocks
PFR-3.2 Utilize a system to record income and spending for categories such as purchases, services, and taxes 9-12 Financial Building Blocks
PFR-4.3 Evaluate the effect of living beyond one’s financial resources 9-12 Financial Building Blocks
PFR-3.5 Demonstrate budgeting financial and other resources to make contributions to a charitable organization 9-12 —
Saving 3/3 covered
ID Standard Grade iKnowFi Academy Course
PFR-2.3 Describe benefits of employer sponsored savings plans and other personal options for shifting current income to the future 9-12 Your Financial Future
PFR-6.1 Analyze effect of saving strategies, including "pay yourself first," payroll deduction, automatic savings options, and reflective spending practices on financial well being 9-12 The Importance of Saving
PFR-6.1 Compare the interest generated by simple and compound interest at various rates 9-12 The Importance of Saving
Banking & Payments 3/3 covered
ID Standard Grade iKnowFi Academy Course
PFR-3.2 Demonstrate recordkeeping that utilizes digital financial management systems 9-12 Managing Your Money
PFR-3.3 Evaluate different payment methods, including cash, checks, stored-value cards, debit cards, credit cards, and electronic or online payment systems 9-12 Managing Your Money
PFR-3.3 Demonstrate skill in basic financial tasks (such as bill payments, check writing, reconciling checking and debit account statements, and monitoring printed and online account statements for accuracy) 9-12 Managing Your Money
Financial Systems & Regulation 1/3 covered
ID Standard Grade iKnowFi Academy Course
PFR-6.6 Explain how federal and state financial regulatory agencies decrease savings and investing risks 9-12 Managing Your Money
PFR-1.5 Describe essential elements of a contract between individuals and between individuals and businesses 9-12 —
PFR-6.6 Identify additional services and benefits of the Indiana Securities Division and other federal and state regulators 9-12 —
Identity Theft & Cyber Safety 2/2 covered
ID Standard Grade iKnowFi Academy Course
PFR-1.6 Describe the actions a victim of identity theft can take to restore personal security 9-12 Financial Preparation and Recovery
PFR-3.4 Recognize potential threats (such as identity fraud, scams, theft, phishing, spam, unethical internet practices) to sound financial decisions 9-12 Financial Preparation and Recovery
Earning Income 2/2 covered
ID Standard Grade iKnowFi Academy Course
PFR-2.1 Analyze ways economic, social, cultural, education and political conditions can affect income and career potential 9-12 Financial Building Blocks
PFR-2.2 Compare and contrast wage, gift, rent, interest, dividend, capital gain, tip, commission, and business profit as sources of personal income 9-12 Financial Building Blocks
Postsecondary Financing 2/2 covered
ID Standard Grade iKnowFi Academy Course
PFR-3.1 Analyze a plan to secure funding for a financial goal (such as college, major consumer purchases, etc.) 9-12 Your Financial Future
PFR-3.3 Investigate and demonstrate ability to apply for financial assistance (such as FAFSA, 21st Century Scholars, scholarships, grants, and aid from colleges and universities) for post-secondary education 9-12 Your Financial Future
Retirement Planning 2/2 covered
ID Standard Grade iKnowFi Academy Course
PFR-3.6 Contrast wills, "living wills," trusts and other ways estates can be transferred 9-12 Your Financial Future
PFR-3.6 Evaluate estate planning tools (such as pensions, retirements, social security, trusts, and annuities) 9-12 Your Financial Future
Employment & Benefits 0/2 covered
ID Standard Grade iKnowFi Academy Course
PFR-2.2 Analyze the advantages and disadvantages of participation in government assistance programs 9-12 —
PFR-2.3 Analyze typical employee benefits and explain why they are a form of compensation 9-12 —
Net Worth & Wealth Building 1/1 covered
ID Standard Grade iKnowFi Academy Course
PFR-3.1 Develop a personal financial plan that shows allocation of income, spending, saving, investing and sharing/giving over a year-long time span 9-12 Your Financial Future
Housing & Mortgages 1/1 covered
ID Standard Grade iKnowFi Academy Course
PFR-3.4 Evaluate opportunity costs (such as owning versus renting a house, purchasing or leasing an auto) 9-12 Making Housing Decisions
Taxes 1/1 covered
ID Standard Grade iKnowFi Academy Course
PFR-6.5 Calculate the amount of taxes on investments and income tax-free earnings 9-12 Financial Preparation and Recovery
Entrepreneurship 0/1 covered
ID Standard Grade iKnowFi Academy Course
PFR-2.1 Analyze the financial risks and benefits of entrepreneurship as a career choice 9-12 —

Indiana Financial Literacy FAQ

Yes. Indiana requires financial literacy instruction, effective since 2024.

Indiana requires K-12 students to receive financial literacy instruction. Effective 2024, students must complete financial literacy standards integrated into social studies, mathematics, and other subject areas by graduation.

Indiana's financial literacy requirement is established by SB 35 / SEA 35 (2023). Effective May 4, 2023 (signed by Governor Eric Holcomb; effective for Class of 2028).

Requires all high school students to successfully complete a standalone personal financial responsibility course prior to graduation, covering topics including bank accounts, loans, tax returns, credit scores, investing, and retirement savings; takes effect for the graduating Class of 2028.

Indiana's financial literacy standards apply to grades K-5, 6-8, 9-12. Standards are integrated into existing coursework.

Indiana has 63 financial literacy standards spanning 16 topic areas including Financial Decision-Making & Behavior, Credit & Debt, Investing, Consumer Protection & Fraud, Budgeting & Cash Flow.

Indiana's 63 standards are organized across 16 topics: Financial Decision-Making & Behavior, Credit & Debt, Investing, Consumer Protection & Fraud, Budgeting & Cash Flow, Insurance & Risk Management, Saving, Banking & Payments, Identity Theft & Cyber Safety, Earning Income, Postsecondary Financing, Retirement Planning, Net Worth & Wealth Building, Housing & Mortgages, Taxes, Financial Systems & Regulation.

Indiana is an open-territory state where individual districts purchase curriculum directly.

Individual K-12 districts make their own procurement decisions for instructional materials without state-mandated adoption lists. Districts may use RFP processes, cooperative purchasing, or direct vendor engagement.

iKnowFi Academy covers 54 of Indiana's 63 financial literacy standards (86% coverage) across 10 self-paced online courses.

Each course is aligned to Indiana's specific learning objectives, built on the Absorb LMS, and includes built-in assessments. Teachers assign them and students work independently.

Get Your Free Indiana Standards Alignment Report

See exactly how iKnowFi Academy maps to each of Indiana's 63 financial literacy standards — standard by standard, module by module.

  • 54 of 63 standards covered
  • 10 self-paced courses, ready to assign
  • Built-in assessments and progress tracking
  • No schedule changes needed — students work independently

Ready to see the full alignment?

Free for Indiana school districts

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Last updated: March 2026