PUYALLUP, Wash. — All high schools in Washington state are now required to offer financial literacy education, but students are not required to take the class to graduate.
But that could change if a bill passed by Congress in Olympia becomes law.
“I think this is a really great way that we can prepare students to make their first really, really big financial decisions in a responsible way,” said Rep. Schuyler Ruud, R-Walla Walla.
Rep. Rude is the sponsor of HB 1915, which would make financial literacy a statewide graduation requirement. The bill has already passed the House and passed a Senate committee on Wednesday, February 21st.
“A lot of the groundwork has already been laid, the curriculum is available, the teacher training is available,” Ruud said. “The superintendent has already set learning standards.”
If the bill passes, the Class of 2031 will be the first class to have financial literacy as a statewide graduation requirement.
As this bill moves forward in Olympia, some school districts in Washington are taking a few steps forward.
At Puyallup, 24 percent of students graduating this year are taking financial literacy, and that number will soon reach 100 percent.
Back in 2022, the Puyallup School District decided to make financial literacy a graduation requirement. The first class in the Puyallup School District to be subject to this requirement is the Class of 2026.
“I'm just excited to be able to offer financial literacy opportunities to more students,” said Yesica Park, who has taught financial literacy at Puyallup High School for seven years.
In a recent lesson, students in Mr. Park's class learned how to create a monthly budget, which is just one part of the curriculum.
“We learn everything from taxes, investments, insurance, retirement and banking,” Park says.
Students in her class said they feel the course prepares them to plan financially for their education beyond high school.
“Life is so much easier when you know how to save money and budget properly,” said Julie Parson, a senior at Puyallup High School. “Investing is an important part of adult life.”
Parson said she hopes financial literacy will become a requirement and that other students will be able to learn about these topics as well.
“It's very important for people to know how to pay their taxes, how to buy a car, how to take out a loan, how to save money and spend it wisely,” Parson said.
At least 11 other states, including Oregon and Utah, have passed laws requiring financial literacy for graduation.
