State Requirements - Virginia
2005 VA SB 950
Authorization:
SB 950 Chapter 741
Approved by Governor 03/26/05. Economic education and financial
literacy are required in the middle and high school grades. By July 1,
2006, the Board of Education is required to develop and approve
objectives for economics education and financial literacy in grades six
through 12. The principles of the American economic system and
financial literacy must also be systematically infused in the Standards
of Learning, and in career and technical education programs. However,
these objectives are not required to be included in the Standards of
Learning assessments. Board of Education to establish objectives for
economic education and financial literacy; banking-at-school programs.
Curriculum:
Objectives for
economics education and financial literacy at the middle and high
school levels shall include, but not be limited to, personal living and
finances; personal and business money management skills; opening an
account in a financial institution and judging the quality of a
financial institution's services; balancing a checkbook; completing a
loan application; the implications of an inheritance; the basics of
personal insurance policies; consumer rights and responsibilities;
dealing with salesmen and merchants; debt management; managing retail
and credit card debt; state and federal tax computation; local tax
assessments; computation of interest rates by various mechanisms;
understanding simple contracts; and learning how to contest an
incorrect bill.
Status Description:
By July 1,
2006, the Board of Education shall develop and approve objectives for
economics education and financial literacy at the middle and high
school levels, that shall be required of all students, and shall
provide for the systematic infusion of economic principles in the
relevant Standards of Learning, and in career and technical education
programs.
Resources:
SB 950 BILL
Graduation Requirements
Personal Finance Objectives and Correlations
Standards of Learning
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Jump$tart Coalition for Personal Financial Literacy |
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