wa-law.org > bill > 2023-24 > HB 1915 > Substitute Bill
The legislature recognizes that acquiring and applying a basic knowledge of personal finance is critical to the economic well-being of all adults. Without this knowledge, persons are much less well equipped to navigate the complicated financial issues of modern life, including household budgets, consumer debt, loan applications and obligations, and successful retirement planning.
The legislature also recognizes that it has taken meaningful steps to support financial education instruction in public schools, including establishing the financial education public-private partnership in 2004, adopting financial education learning standards in 2015, and providing funds in 2022 for financial education professional development for certificated staff.
In recognition of the relevance and importance of personal finance knowledge, the ongoing efforts of the financial education public-private partnership, and the ability of public schools to teach or continue teaching financial education instruction, the legislature intends to ensure that all Washington students are provided financial education instruction. Therefore, the legislature intends to make financial education instruction a graduation prerequisite and a required component of public education: (a) While maximizing flexibility for school districts to implement the instruction in a manner that recognizes their local circumstances; and (b) without increasing the number of credits the state requires for graduating students.
After consulting with the financial education public-private partnership, the office of the superintendent of public instruction shall make available to all school districts a list of instructional materials that align with the financial education learning standards
adopted in RCW 28A.300.469.
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Beginning in or before the 2027-28 school year, each school district that operates a high school shall provide all high school students with access to no less than one-half credit of financial education instruction.
Beginning with the graduating class of 2031, each student graduating from a public high school must earn no less than one-half credit of financial education instruction.
The content and instruction required by this subsection (1) may be provided in stand-alone courses or embedded into other courses and subject areas.
Instruction provided in accordance with this subsection (1) must conform with the state financial education learning standards adopted in RCW 28A.300.469.
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By December 15, 2025, school districts shall submit to the state board of education and the financial education public-private partnership established in RCW 28A.300.450:
A list of the financial education instruction courses, graduation requirements, and credit requirements implemented for students during or prior to the 2024-25 school year;
A description of the school district actions and other considerations necessary to implement this section; and
A plan and timeline for providing students with the ability to meet the graduation requirement in subsection (1)(b) of this section.
The financial education public-private partnership shall analyze the information provided under (a) of this subsection and create a statewide implementation plan for the requirements of this section. The plan, which must be submitted to the office of the superintendent of public instruction, the state board of education, and, in accordance with RCW 43.01.036, the appropriate committees of the legislature by September 30, 2026, may include recommendations for additional funding for grants to integrate financial literacy education into professional development for certificated staff and other school district resources in accordance with submissions provided under (a) of this subsection.
Beginning no later than the 2027-28 school year, school districts shall publicize the offering of financial education instruction, and the associated graduation requirement, to students and their parents or legal guardians.
Principals may waive the graduation requirement established in subsection (1)(b) of this section for students who resided outside of the state for six or more consecutive months during any part of grades nine through 12. Waivers provided in accordance with this subsection (4) may only be issued on an individual basis and only for students in grade 12.
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The state board of education shall review and monitor financial education offerings to ensure school district compliance with the requirements of subsection (1)(a) of this section. The reviews and monitoring required by this subsection (5) may be conducted concurrently with other oversight and monitoring conducted by the state board of education.
The state board of education, in accordance with RCW 43.01.036, shall provide a summary of the information collected under this subsection (5) for school years 2027-28 and 2028-29 to the appropriate committees of the legislature by January 10, 2030.
This section governs school operation and management under RCW 28A.710.040 and 28A.715.020, and applies to charter schools established under chapter 28A.710 RCW and state-tribal education compact schools subject to chapter 28A.715 RCW to the same extent as it applies to school districts.