Chapter 69 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by inserting after section 1O the following section:-

Section 1P.  To equip students with the knowledge and skills needed to become self-supporting and to enable students to make critical decisions regarding personal finances, the department of elementary and secondary education shall authorize and assist in the implementation of standards and objectives on personal financial literacy. The components of personal financial literacy covered in the standards and objectives shall include: student loans and debt; understanding borrowing money, interest, credit card debt, and online commerce; rights and responsibilities of renting or buying a home; saving, investing and planning for retirement; banking and financial services; state and federal taxes; and balancing a checkbook.

The department shall develop standards and objectives on personal financial literacy, for grades 9 to 12, inclusive, within the existing mathematics curriculum for implementation by the start of the 2016-2017 school year.  The department shall provide to school districts, charter schools, approved private day or residential schools, and collaborative schools a list of resources to aid in the selection of materials and curriculum on personal financial literacy. The department shall identify and offer cost-effective methods of professional development needed to meet these standards and objectives. The department may apply for any federal, state, or other funding, including funding available through the Financial Literacy Trust Fund, as established by Chapter 10 of the General Laws, as amended by Chapter 14 of the Acts of 2011.