wa-law.org > bill > 2025-26 > SB 5849 > Original 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.
The legislature also recognizes the state board of education has undertaken FutureReady, an initiative to streamline the graduation requirements framework to promote accessibility and equity.
In recognition of the relevance and importance of personal finance knowledge, the ongoing efforts of the financial education public-private partnership, the ability of public schools to teach or continue teaching financial education instruction, and in alignment with the FutureReady initiative, 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 requirement.
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 required under RCW 28A.655.070.
School districts shall provide all students in grades nine through 12 the opportunity to access the financial education standards, whether through a regularly scheduled class period; before or after school; during lunch periods; at library and study time; at home; via online learning opportunities; through career and technical education courses equivalencies; or other opportunities. School districts shall publicize the availability of financial education opportunities to students and their families. School districts are encouraged to grant credit toward high school graduation to students who successfully complete financial education courses.
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Beginning in or before the 2029-30 school year, each school district that operates a high school shall provide all high school students with financial education instruction that is consistent with the state financial education learning standards required under RCW 28A.655.070.
Each student must meet high school learning standards related to financial education in order to graduate from high school, beginning with the earlier of the graduating class of 2033 or as recommended by the state board of education.
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The state board of education shall recommend needed adjustments to graduation requirements and other educational offerings in order to ensure students have adequate opportunity to meet the graduation requirement established in subsection (1)(b) of this section.
In developing the recommendations, the state board of education shall:
Consult with the financial education public-private partnership, students, parents and legal guardians, educators, K-12 education partners, postsecondary partners, employers, and community members;
Consider how students may meet financial education learning standards and develop other skills and knowledge in the state's profile of a graduate developed under section 1, chapter 144, Laws of 2021 while meeting standards in core subject areas; and
Consider how to incorporate the requirement established in subsection (1)(b) of this section into the framework of graduation requirements, including consideration of credit options and competency-based options.
The state board of education shall submit a report with recommendations to the governor and education committees of the legislature by December 31, 2026.
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.
Students in grade 12 who have not been able to meet the graduation requirement established in subsection (1)(b) of this section because of previous residence outside the state may have the requirement waived by their principal. Waivers provided in accordance with this subsection (4) may only be issued on an individual basis.
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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, 2029.
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.