OLYMPIA – Legislation making financial education a graduation requirement for Washington students has been prefiled for consideration during the upcoming 2025 legislative session. Sponsored by Sen. Javier Valdez (D-Seattle) in partnership with newly elected Sen. Adrian Cortes (D-Battle Ground), Senate Bill 5080 would make financial education available in every Washington school district by the 2029-30 school year.
State Treasurer Mike Pellicciotti, whose office operates a financial education program and supports Washington’s Financial Education Public-Private Partnership (FEPPP), offered the bill as Treasury request legislation, citing the increasing demand from communities around the state.
“Financial matters impact us every day. Whether we’re just trying to make household budgets go a bit further, pay all our bills or applying for home, student, or car loans, being empowered with the knowledge to achieve those goals must be a part of our education system,” said Pellicciotti. “Basic financial knowledge is absolutely essential not only to aid Washingtonians in navigating increasingly complex financial systems, but also as a pathway to quality employment opportunities in accounting, banking, and financial services which exist in every corner of our state.”
In the previous legislative session, amended versions of a financial education bill passed both the House of Representatives and Senate, but did not receive a final vote before the end of the 2024 session. Building on that momentum, champions of the bill are confident that the Legislature will continue making progress in the months ahead.
"Financial literacy is essential for success in today’s world,” said Valdez. “This legislation ensures every student in Washington state graduates with the tools they need to manage their finances, plan for the future and build a secure, prosperous life for themselves and their families."
These standards would also apply to charter schools and state-tribal education compact schools. The bill now awaits referral for consideration in legislative committees for session, which begins on January 13, 2025.