Each year, Washington joins a shrinking list of states that don’t require students to take a course in financial literacy before graduating from high school. That’s a concerning statistic for the state’s top financial officer, Treasurer Mike Pellicciotti.
Not to be confused with economics, the study of systems of money — the type of course the treasurer is advocating for — includes information on borrowing and lending, interest rates, and how to balance a personal budget.
“It’s really important for our education system to lay a foundation for students as they move to adulthood, and I think understanding increasingly complex financial systems is important,” says state Sen. Marcus Riccelli, a Spokane Democrat. “A lot of students are graduating with huge debt loads these days, so we want to teach them how to manage that. I don’t think everybody can prosper or thrive unless they are able to manage their finances and plan for the future.” Read more.
