Survey of the States – 2020


The state of K–12 economic and financial education in the United States.

Key Findings

  • Since 2016, no additional states have added personal finance to their K-12 standards or requirements.
  • Only 1/3 of states require their students to graduate having taken a personal finance class.
  • Rhetoric is not meeting action: while policy makers and the public regularly call for us to do better as a nation, those calls are not translating into real legislative change.
  • •“If it’s not tested it’s not taught”, and a few states are ensuring that robust testing accompanies classroom instruction – only 16 states for economics and a mere 7 for personal finance.

About Survey of the States

Every two years, the Council for Economic Education (CEE) conducts a comprehensive look into the state of K-12 economic and financial education in the United States, collecting data from all 50 states and the District of Columbia. The biennial Survey of the States serves as an important benchmark for our progress, revealing both how far we’ve come and how far we still have to go. There has been notable progress since the first survey was published in 1998, yet the pace of change has slowed.

Personal Finance Challenges

The Maryland’s Personal Finance Challenge is an opportunity for middle and high school students to demonstrate their personal finance knowledge in a fun, competitive environment.  Teams of up to four students compete on topics from spending, credit, savings, investing, income and money management.  The Challenge helps students gain a better understanding and appreciation of personal finance.  Cash prizes are available for the top teams.  For more information contact

National Personal Finance Challenge Winners

Maryland High School Personal Finance Challenge!

The team from Applications and Research Laboratory (ARL) from Howard County won first place in the Maryland Personal Finance Challenge.

The team took first place honors at our Maryland competition sponsored by M&T Bank, then competed against 20 other state winners and were the 2016 national winners at the national challenge sponsored by Wells Fargo. Dr. Maddy Halbach, their teacher at ARL, deserves congratulations for preparing the students for the competition.

MD InvestWrite Spring Contest Winners

InvestWrite logo

Congratulations to the Maryland 2015-2016 National InvestWrite winners!


  • 6th Place National 4-5 Division – Carlyn McMahan from Ring Factory Elementary in Harford County.
    Steven Dodd is the advisor.
  • 8th Place National 6-8 Division – Arina Drovetskaya from Crofton Middle in Anne Arundel County.  Amy McKusky is the advisor
  • 5th  Place National 9-12 Division – Ayo Adelaja from Applications and Research Laboratory in Howard County.
    Maddy Halbach is the advisor.
  • 8th  Place National 9-12 Division – Benjamin Yost from Applications and Research Laboratory in Howard County.
    Maddy Halbach is the advisor.


  • 9th Place National 4-5 Division – Sammy Lever from Homestead Wakefield Elementary in Harford County.
    Debbie Limpert is the advisor.

Great job! Thanks to everyone who participated.