Executive Summary
Summary
The bill proposes making financial education instruction a graduation prerequisite for all high school students in Washington, starting with the graduating class of 2029.
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It would make financial education a required component of public education starting next year, ensuring that all students in the state have access to at least one-half credit of financial education instruction.
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Instruction would have to conform with the existing learning standards for financial education.
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School districts are required to submit plans and timelines for providing students with the ability to meet the graduation prerequisite.
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The bill allows school districts flexibility in implementing the instruction, recognizing different local circumstances.
It creates some requirements in this curriculum for elementary and middle school grades.
Key Points
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.
What would financial literacy classes look like?
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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.
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The 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.
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Some are also concerned about the timeline of implementing this area as a new graduation requirement and ensuring teachers are prepared to teach it.
Additional Details
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.