BILL REQ. #:  H-0337.1 

Read first time 01/28/11.   Referred to Committee on Education.

     AN ACT Relating to providing online financial education in public schools; adding a new section to chapter 28A.300 RCW; and creating a new section.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION.  Sec. 1   The legislature finds no greater evidence of the need for financial education than the mortgage and banking crisis that has occurred in the United States in recent years. The legislature further finds that it is difficult to imagine a high school graduate being prepared for postsecondary education, career, and citizenship without financial education. Therefore the legislature intends to make available to all public high school students the opportunity to learn fundamental financial skills such as managing checking and savings accounts and understanding the implications and basic operation of contracts, compound interest, loans, mortgages, payment plans, credit cards, fair credit laws, and other credit issues.

NEW SECTION.  Sec. 2   A new section is added to chapter 28A.300 RCW to read as follows:
     (1)(a) The office of the superintendent of public instruction, through the digital learning department, shall make available to all school districts an online course in financial education with sufficient content to be equivalent to one-half of one high school credit.
     (b) The office shall select the course with input from the financial education public-private partnership established in RCW 28A.300.450 to ensure that the course meets financial education learning standards endorsed by the partnership.
     (c) The office shall seek federal and private funds to support the online financial education course.
     (2) School districts shall provide all students in grades nine through twelve the opportunity to complete the online financial education course under this section, whether through a regularly scheduled class period; before or after school; during class period breaks, lunch periods, or library and study time; at home; or other opportunities. School districts shall publicize the availability and importance of the online financial education course to students and their families. School districts are encouraged to grant credit toward high school graduation to students who successfully complete the online financial education course.