Executive Summary
Summary
This bill would establish financial literacy as a graduation requirement in Washington.
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It asks education agencies and partners to coordinate on making an implementation plan to ensure all districts are equipped and ready to do this.
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This requirement would start taking effect in 2031, to give districts enough time to prepare.
Background
What is a graduation requirement?
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Graduation requirements are the set of criteria set by the State Board of Education that students must meet in order to earn a high school diploma.
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These requirements include criteria like a total number of credits, types of courses, scores on assessments, and planning for the future.
What is financial literacy and why is it important?
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Financial literacy refers to a person’s understanding of and experience with managing their money, saving for important life goals, budgeting, investing, credit, navigating banks & credit companies, and more. It’s an area in which many students, young people, and young adults alike wish they had more knowledge.
Key Points
The current learning standards for financial literacy begin in Grade 1 and continue through Grade 12. It covers a range of important topics that would benefit many as they develop their personal finances. These standards could do more to emphasize racial equity in this area, as well as balance information about large credit companies and their histories of predation or harm to communities.
Some are also concerned about the timeline of implementing this area as a new graduation requirement and ensuring teachers are prepared to teach it. Moreover, the State Board of Education is already undergoing a process to reevaluate graduation requirements in Washington. Any changes should probably be part of a comprehensive review process, rather than standalone additions.
Ways to Get Involved
Steps to Get Started
- Learn where the bill is in the legislative process.
- If there is an upcoming hearing, decide how you would like to get your voice heard and take action.
- If there is not an upcoming hearing, or if you want to supplement your advocacy, call or write your legislators.
- Spread the word and get other people on board.
Participating in a Hearing
Sign in Pro, Con, or Other
This is when individuals, advocates, and organizations make their position on a particular bill known for the record. This is particularly powerful in large numbers. Many organizations will send out Action Alerts asking people to sign in Pro or Con on a bill.
Submit Written Testimony
Submitting written testimony is a great way not only to make your position known to legislators but also to explain why in more detail. This is a good option if you don’t want to speak in front of others. People also like to offer more nuance to their position by writing.
Testify Virtually
Since COVID, many legislators are allowing remote/virtual testimony for bill hearings, as it greatly expands access to the legislative process across the state. For this, individuals usually have between 1-2 minutes to state their opinion on a bill in front of the legislative committee on Zoom.