Tuesday, August 21, 2012

A Long - But Successful - Road to Financial Literacy in Virginia

Virginia Business has a look at the long, but successful road the Commonwealth has traveled to get financial literacy courses in its classrooms.  It is a nice column from one of the supporters of the legislation.

Just how long was the road?
The VSCPA has been pressing the issue of financial literacy since 2004. In 2005, the General Assembly approved a bill to require instruction in the topic. In 2008, Chesapeake Del. Lionell Spruill Sr. introduced legislation to make the course a graduation requirement, but the bill failed to make it out of committee. The Virginia Board of Education (VBOE) did what the legislature would not. In February 2009, it revised its Standards of Accreditation, making the course a graduation requirement. Then-Gov. Tim Kaine approved the regulatory changes.