Maryland integrates financial literacy into existing courses rather than requiring a standalone class. The state has 67 financial literacy standards across 13 topic areas that are embedded within subjects like economics and social studies.

Last updated: March 2026

67 Standards
13 Topic Areas
integrated Mandate Status
K-5, 6-8, 9-12 Grade Levels

Does Maryland Require Financial Literacy Education?

Yes, through integration. Maryland requires financial literacy concepts to be taught within existing courses rather than as a standalone class. Maryland requires financial literacy content integrated into social studies and mathematics curricula as part of the Maryland College and Career-Ready Standards. A standalone financial literacy course is not mandated statewide, though some districts offer electives.

Mandate Details

Status
integrated
Effective Year
2016
Standalone Course
No
Grade Levels
K-5, 6-8, 9-12
Legislation
COMAR 13A.04.06.01 (Personal Financial Literacy Regulation) (September 2011)
SB 592 (2026 Regular Session) - Pending (N/A - not enacted)

Key Agencies

Maryland State Department of Education
State educational authority; provides curriculum standards and procurement guidance
Maryland Association of Boards of Education (MABE)
Advocate for school boards; administers cooperative purchasing agreements
Procurement and Contract Management Branch
Handle all educational materials purchasing for their respective districts
Public School Superintendents' Association of Maryland
Professional organization; source for district procurement contacts
What this means for districts: Teachers need resources that address financial literacy objectives within their existing courses. A standards-aligned supplement can help ensure coverage without requiring schedule changes.

What Are Maryland's Financial Literacy Standards?

Maryland has 67 financial literacy standards organized across 14 topic areas. These topics range from Credit & Debt and Financial Decision-Making & Behavior to Macroeconomics/Market Context, covering the full spectrum of personal finance education.

19 standards
Credit & Debt
18 covered 1 gap
9 standards
Financial Decision-Making & Behavior
9 covered
6 standards
Investing
6 covered
6 standards
Insurance & Risk Management
5 covered 1 gap
4 standards
Employment & Benefits
2 covered 2 gaps
4 standards
Taxes
3 covered 1 gap
4 standards
Budgeting & Cash Flow
4 covered
4 standards
Banking & Payments
4 covered
4 standards
Consumer Protection & Fraud
4 covered
2 standards
Earning Income
1 covered 1 gap
2 standards
Saving
2 covered
1 standard
Postsecondary Financing
1 covered
1 standard
Net Worth & Wealth Building
1 covered
1 standard
Macroeconomics/Market Context
0 covered 1 gap

How Maryland School Districts Adopt Financial Literacy Curriculum

Maryland is an open territory state, meaning individual districts have the authority to select and purchase curriculum directly without state-level approval. Maryland does not have a state-mandated textbook adoption process. School districts retain autonomy to select and adopt instructional materials based on local needs and budgets.

Purchasing Process

Individual school districts conduct their own procurement processes, often through RFPs, competitive bidding, or direct purchasing. The state provides guidance and resources but does not mandate a centralized adoption list.

Decision Level

Educational material selection and procurement decisions are made at the local school district level, with each of Maryland's 24 school systems (plus Baltimore City) having independent authority.

Cooperative Purchasing Options

Maryland Association of Boards of Education (MABE) Cooperative Purchasing Program Washington Metropolitan Area Council of Governments (WMCOG) Cooperative Purchasing Various regional educational service organizations

Curriculum That Meets Maryland'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 Maryland's learning objectives. iKnowFi Academy covers 60 of 67 standards (89.6% coverage) across 9 courses.

Maryland Standards Coverage

89.6%
60 of 67 standards covered 9 courses

Aligned Courses

Borrowing Money

4 modules · 5 standards aligned

Establishing Credit

3 modules · 9 standards aligned

Financial Building Blocks

2 modules · 7 standards aligned

Financial Preparation and Recovery

4 modules · 9 standards aligned

Managing Your Debt

2 modules · 4 standards aligned

Managing Your Money

3 modules · 8 standards aligned

The Importance of Saving

2 modules · 6 standards aligned

Using Credit Cards

1 module · 1 standard aligned

Your Financial Future

3 modules · 11 standards aligned

Maryland's Financial Literacy Standards & iKnowFi Academy Alignment

All 67 standards — 60 covered by iKnowFi Academy.

Credit & Debt 18/19 covered
ID Standard Grade iKnowFi Academy Course
STD-3 Explain the concept of financial obligations, such as a promissory note, cell phone contract or college loan. 12 Borrowing Money
STD-27 Identify the rights and responsibilities of all parties entering into a contract, such as college loans, cell phone contracts, car loans, and credit card. 12 Borrowing Money
STD-28 Discuss the possible consequences of not adhering to the terms of a contract. 12 Managing Your Debt
STD-29 Differentiate among situations when debt is an advantage and when it is a disadvantage. 12 Managing Your Debt
STD-30 Discuss how debt can be used to establish credit. 12 Establishing Credit
STD-31 Predict the consequences of having too much debt, and analyze the problems of not meeting credit obligations, such as poor credit score, late fees, loan acquisition, paying higher interest rates, and bankruptcy. 12 Managing Your Debt
STD-32 Determine when credit counseling is necessary. 12 Establishing Credit
STD-34 Identify strategies to acquire and maintain credit. 12 Establishing Credit
STD-35 Compare sources of consumer credit, and apply them to consumer decisions. 12 Borrowing Money
STD-36 Calculate the difference between short- and long-term loans with regards to interest. 12 Borrowing Money
STD-37 Identify and discuss examples of predatory lending practices, such as payday lenders. 12 Borrowing Money
STD-38 Compare and compute interest and compound interest and interpret an amortization table. 12 The Importance of Saving
STD-39 Compute and assess the accumulating effect of interest paid over time. 12 The Importance of Saving
STD-40 Explain personal responsibility and the factors that affect creditworthiness, such as payment history and the ratio of total debt vs. total available credit. 12 Establishing Credit
STD-41 Explain how a credit report is used and how frequently it should be obtained. 12 Establishing Credit
STD-42 Explain how credit scores can be used to leverage better products, services, and employment opportunities, such as Security Clearance. 12 Establishing Credit
STD-43 Apply strategies to prevent or manage credit problems. 12 Establishing Credit
STD-44 Compare sources of credit reporting and evaluate credit report scores. 12 Establishing Credit
STD-33 Find reputable providers of credit counseling services. 12 —
Financial Decision-Making & Behavior 9/9 covered
ID Standard Grade iKnowFi Academy Course
STD-1 Analyze costs, benefits, and opportunity cost to determine the achievement of personal financial goals. 12 Managing Your Money
STD-2 Apply the decision-making process to an unforeseen situation. 12 Financial Preparation and Recovery
STD-5 Evaluate factors that affect personal financial decisions and actions. 12 Managing Your Money
STD-6 Refine and extend a conceptual understanding of new words regarding financial literacy. 12 Your Financial Future
STD-7 Apply the decision-making process to achieve a personal financial goal. 12 Managing Your Money
STD-8 Evaluate outcomes of financially responsible and irresponsible decisions. 12 Managing Your Debt
STD-17 Examine how income and debt affect choices and spending. 12 Managing Your Money
STD-20 Cite examples of trade-offs resulting from competing financial goals. 12 Managing Your Money
STD-52 Assess factors that influence financial planning (age, income, liabilities, assets, goals, family size, risk tolerance, etc.). 12 Your Financial Future
Investing 6/6 covered
ID Standard Grade iKnowFi Academy Course
STD-50 Analyze the effect of compounding. 12 The Importance of Saving
STD-51 Explain the concept of asset allocation based on short- and long term goals. 12 Your Financial Future
STD-53 Distinguish between saving and investing and income and wealth. 12 Your Financial Future
STD-55 Compare sources for investment products, such as banks and investment companies. 12 Your Financial Future
STD-56 Select financial services and products to achieve personal financial goals. 12 Your Financial Future
STD-57 Calculate returns on investments as it relates to time horizons. 12 Your Financial Future
Insurance & Risk Management 5/6 covered
ID Standard Grade iKnowFi Academy Course
STD-58 Explain circumstances that impact income and wealth. 12 Financial Building Blocks
STD-59 Strategize methods to minimize financial loss. 12 Financial Preparation and Recovery
STD-60 Explain how legal documents protect individuals’ personal assets, such as wills and trusts. 12 Financial Preparation and Recovery
STD-65 Investigate and apply different types of insurance coverage to selected situations. 12 Financial Preparation and Recovery
STD-66 Review and apply criteria to choose insurance coverage for selected situations. 12 Financial Preparation and Recovery
STD-67 Compare insurance rates, premiums, and deductibles to minimize costs in selected situations. 12 —
Employment & Benefits 2/4 covered
ID Standard Grade iKnowFi Academy Course
STD-9 Integrate a broad range of interests into one’s personal learning and career goals, and assess the impact of abilities, strengths, skills, and talents on one’s career development. 12 Your Financial Future
STD-10 Evaluate how positive personal characteristics affect one’s career development. 12 Your Financial Future
STD-11 Map out a variety of jobs that would comprise a “career ladder.” 12 —
STD-12 Analyze the benefits and trade-offs of a variety of careers including personal satisfaction. 12 —
Taxes 3/4 covered
ID Standard Grade iKnowFi Academy Course
STD-14 Differentiate between “gross” and “net” income. 12 Financial Building Blocks
STD-25 Evaluate the consequences of not complying with personal tax obligations. 12 Financial Preparation and Recovery
STD-26 Evaluate various sources of tax planning and filing assistance. 12 Financial Preparation and Recovery
STD-24 Determine the services that are provided through tax dollars. 12 —
Budgeting & Cash Flow 4/4 covered
ID Standard Grade iKnowFi Academy Course
STD-18 Determine the circumstances for using a spending plan. 12 Financial Building Blocks
STD-19 Apply money management strategies that enable individuals to progress toward stated financial goals. 12 Financial Building Blocks
STD-21 Prepare a spending plan based on personal values and goals. 12 Financial Building Blocks
STD-47 Create a spending plan that includes strategies to accomplish savings goals. 12 Financial Building Blocks
Banking & Payments 4/4 covered
ID Standard Grade iKnowFi Academy Course
STD-22 Compare the financial products and services of various financial institutions, including interest and fees. 12 Managing Your Money
STD-23 Determine which financial product best aligns to achieving personal financial goals. 12 Managing Your Money
STD-48 Predict the long term effects of being banked versus unbanked. 12 The Importance of Saving
STD-49 Describe federal deposit insurance programs for banks and credit unions. 12 Managing Your Money
Consumer Protection & Fraud 4/4 covered
ID Standard Grade iKnowFi Academy Course
STD-61 Determine how to detect a fraudulent situation and the methods for protection against fraudulent activities. 12 Financial Preparation and Recovery
STD-62 Assess situations that put consumers in financial risk, such as sharing account information, identity theft, and co-signing on loans. 12 Financial Preparation and Recovery
STD-63 Explain the rights and responsibilities of buyers and sellers under consumer protection laws such as the “Credit Card Bill of Rights.” 12 Using Credit Cards
STD-64 Apply consumer protection laws to dispute a claim. 12 Establishing Credit
Earning Income 1/2 covered
ID Standard Grade iKnowFi Academy Course
STD-13 Differentiate among sources of income. 12 Financial Building Blocks
STD-15 Verify the entry and median salaries of two or more positions within a career field. 12 —
Saving 2/2 covered
ID Standard Grade iKnowFi Academy Course
STD-45 Determine both short- and long-term savings goals. 12 The Importance of Saving
STD-46 List strategies to achieve both types of goals. 12 The Importance of Saving
Postsecondary Financing 1/1 covered
ID Standard Grade iKnowFi Academy Course
STD-16 Determine the salary needed and time allotment (5, 10, or 15 years) to repay educational loans. 12 Your Financial Future
Net Worth & Wealth Building 1/1 covered
ID Standard Grade iKnowFi Academy Course
STD-54 Describe the role of revenue-generating assets in building wealth. 12 Your Financial Future
Macroeconomics/Market Context 0/1 covered
ID Standard Grade iKnowFi Academy Course
STD-4 Evaluate how public policy issues impact personal financial decisions, such as environmental and health care concerns. 12 —

Maryland Financial Literacy FAQ

Maryland integrates financial literacy into existing courses rather than requiring a standalone class.

Maryland requires financial literacy content integrated into social studies and mathematics curricula as part of the Maryland College and Career-Ready Standards. A standalone financial literacy course is not mandated statewide, though some districts offer electives.

Maryland's financial literacy requirements are established by COMAR 13A.04.06.01 (Personal Financial Literacy Regulation) and SB 592 (2026 Regular Session) - Pending.

Requires all local education agencies to offer a program of instruction in financial literacy education for students in grades 3-12, with students completing a financial literacy unit once each in elementary (3-5), middle (6-8), and high school (9-12). Would require the State Board of Education to establish a personal financial literacy course as a standalone graduation requirement beginning with the Class of 2030. Introduced February 2026; not yet enacted.

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

Maryland has 67 financial literacy standards spanning 13 topic areas including Credit & Debt, Financial Decision-Making & Behavior, Investing, Insurance & Risk Management, Budgeting & Cash Flow.

Maryland's 67 standards are organized across 13 topics: Credit & Debt, Financial Decision-Making & Behavior, Investing, Insurance & Risk Management, Budgeting & Cash Flow, Banking & Payments, Consumer Protection & Fraud, Taxes, Employment & Benefits, Saving, Earning Income, Postsecondary Financing, Net Worth & Wealth Building.

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

Individual school districts conduct their own procurement processes, often through RFPs, competitive bidding, or direct purchasing. The state provides guidance and resources but does not mandate a centralized adoption list.

iKnowFi Academy covers 60 of Maryland's 67 financial literacy standards (90% coverage) across 9 self-paced online courses.

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

Get Your Free Maryland Standards Alignment Report

See exactly how iKnowFi Academy maps to each of Maryland's 67 financial literacy standards — standard by standard, module by module.

  • 60 of 67 standards covered
  • 9 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 Maryland school districts

Request Alignment Report Schedule a Demo
Last updated: March 2026