{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/22.1-200.03.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/22.1-200.03.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/22.1-200.03.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/22.1-200.03.html"}],"law_id":57131,"edition_id":1,"section_id":57131,"structure_id":12955,"section_number":"22.1-200.03","catch_line":"Economics education and financial literacy required in middle and high school grades; Board of Education to establish objectives for economic education and financial literacy; banking-at-school programs","history":"2005, c. 741; 2017, c. 522; 2021, Sp. Sess. I, c. 25.","full_text":"A\n\nInstruction in the principles of the American economic system shall be required in the public middle and high schools of the Commonwealth to promote economics education and financial literacy of students and to further the development of knowledge, skills, and attitudes needed for responsible citizenship in a constitutional democracy.B\n\nThe 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. The objectives shall include 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 and differences between various employment arrangements with regard to benefits, protections, and long-term financial sustainability; 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; evaluating the economic value of postsecondary studies, including the net cost of attendance, potential student loan debt, and potential earnings; 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.C\n\nTo facilitate the objectives of economics education and financial literacy through practical experiences, the Department shall confer with the State Corporation Commission’s Bureau of Financial Institutions, and financial and relevant professional organizations in the development of guidelines for such literacy objectives. The guidelines shall include (i) rules and policies governing the establishment, operation, and dissolution of school banks and school credit unions; (ii) written agreements between partnering public schools and financial institutions, including the disposition of funds donated or other financial contributions provided by the partnering financial institution; and (iii) such other matters as the Department may deem appropriate.D\n\nThe Board shall not be required to evaluate student achievement concerning economics education and financial literacy objectives in the Standards of Learning assessments required by § 22.1-253.13:3.E\n\nFor the purposes of this section:\n\t\t\t“At-risk and disadvantaged students” means students having socioeconomic or cultural risk factors that research indicates may negatively influence academic achievement or may hinder an individual in reaching his life goals.\n\t\t\t“Employment arrangements” means full-time employment, part-time employment, independent contract work, gig work, piece work, contingent work, day labor work, freelance work, and 1099 work.\n\t\t\t“Financial institution” means a bank, savings and loan association, savings bank, or credit union authorized to conduct business in the Commonwealth.\n\t\t\t“High school” includes grades nine through 12.\n\t\t\t“Middle school” includes grades six through eight.","order_by":null,"text":{"0":{"id":209202,"text":"Instruction in the principles of the American economic system shall be required in the public middle and high schools of the Commonwealth to promote economics education and financial literacy of students and to further the development of knowledge, skills, and attitudes needed for responsible citizenship in a constitutional democracy.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":209203,"text":"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. The objectives shall include 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 and differences between various employment arrangements with regard to benefits, protections, and long-term financial sustainability; 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; evaluating the economic value of postsecondary studies, including the net cost of attendance, potential student loan debt, and potential earnings; 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.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":209204,"text":"To facilitate the objectives of economics education and financial literacy through practical experiences, the Department shall confer with the State Corporation Commission’s Bureau of Financial Institutions, and financial and relevant professional organizations in the development of guidelines for such literacy objectives. The guidelines shall include (i) rules and policies governing the establishment, operation, and dissolution of school banks and school credit unions; (ii) written agreements between partnering public schools and financial institutions, including the disposition of funds donated or other financial contributions provided by the partnering financial institution; and (iii) such other matters as the Department may deem appropriate.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":209205,"text":"The Board shall not be required to evaluate student achievement concerning economics education and financial literacy objectives in the Standards of Learning assessments required by § 22.1-253.13:3.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":209206,"text":"For the purposes of this section:\n\t\t\t“At-risk and disadvantaged students” means students having socioeconomic or cultural risk factors that research indicates may negatively influence academic achievement or may hinder an individual in reaching his life goals.\n\t\t\t“Employment arrangements” means full-time employment, part-time employment, independent contract work, gig work, piece work, contingent work, day labor work, freelance work, and 1099 work.\n\t\t\t“Financial institution” means a bank, savings and loan association, savings bank, or credit union authorized to conduct business in the Commonwealth.\n\t\t\t“High school” includes grades nine through 12.\n\t\t\t“Middle school” includes grades six through eight.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":12955,"edition_id":1,"name":"Programs and Courses of Instruction Generally","identifier":"1","label":"article","depth":3,"order_by":1,"parent_id":12954,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":181371,"object_type":"structure","relational_id":12955,"identifier":"1","token":"22.1\/13\/1","url":"\/22.1\/13\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12954,"edition_id":1,"name":"Programs, Courses of Instruction and Textbooks","identifier":"13","label":"chapter","depth":2,"order_by":1,"parent_id":12823,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":181369,"object_type":"structure","relational_id":12954,"identifier":"13","token":"22.1\/13","url":"\/22.1\/13\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12823,"edition_id":1,"name":"Education","identifier":"22.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":180949,"object_type":"structure","relational_id":12823,"identifier":"22.1","token":"22.1","url":"\/22.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":66514,"structure_id":12955,"section_number":"22.1-199","catch_line":"Kindergarten programs suitable for certain children","url":"\/22.1-199\/","token":"22.1\/13\/1\/22.1-199","metadata":false},{"id":80944,"structure_id":12955,"section_number":"22.1-199.1","catch_line":"Programs designed to promote educational opportunities","url":"\/22.1-199.1\/","token":"22.1\/13\/1\/22.1-199.1","metadata":false},{"id":86271,"structure_id":12955,"section_number":"22.1-199.2","catch_line":"Standards for remediation programs established","url":"\/22.1-199.2\/","token":"22.1\/13\/1\/22.1-199.2","metadata":false},{"id":87068,"structure_id":12955,"section_number":"22.1-199.3","catch_line":"Repealed","url":"\/22.1-199.3\/","token":"22.1\/13\/1\/22.1-199.3","metadata":false},{"id":61709,"structure_id":12955,"section_number":"22.1-199.4","catch_line":"At-Risk Student Academic Achievement Program and Fund","url":"\/22.1-199.4\/","token":"22.1\/13\/1\/22.1-199.4","metadata":false},{"id":79867,"structure_id":12955,"section_number":"22.1-199.5","catch_line":"After school programs for at-risk students","url":"\/22.1-199.5\/","token":"22.1\/13\/1\/22.1-199.5","metadata":false},{"id":58840,"structure_id":12955,"section_number":"22.1-199.6","catch_line":"Expired","url":"\/22.1-199.6\/","token":"22.1\/13\/1\/22.1-199.6","metadata":false},{"id":75210,"structure_id":12955,"section_number":"22.1-199.7","catch_line":"Community schools; 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student-athletes; compensation and representation for name, image, or likeness","url":"\/22.1-212.2_4\/","token":"22.1\/13\/1\/22.1-212.2_4","metadata":false}],"previous_section":{"id":60381,"structure_id":12955,"section_number":"22.1-200.02","catch_line":"Repealed","url":"\/22.1-200.02\/","token":"22.1\/13\/1\/22.1-200.02","metadata":false},"next_section":{"id":57319,"structure_id":12955,"section_number":"22.1-200.1","catch_line":"Optional education programs for kindergarten through grade five","url":"\/22.1-200.1\/","token":"22.1\/13\/1\/22.1-200.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/22.1-200.03\/","history_text":"

This law was first created in 2005. The record of its establishment is cataloged in chapter 741<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2017, chapter 522<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":181417,"object_type":"law","relational_id":57131,"identifier":"22.1-200.03","token":"22.1\/13\/1\/22.1-200.03","url":"\/22.1-200.03\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/22.1-200.03\/","token":"22.1\/13\/1\/22.1-200.03","dublin_core":{"Title":"Economics education and financial literacy required in middle and high school grades; Board of Education to establish objectives for economic education and financial literacy; banking-at-school programs","Type":"Text","Format":"text\/html","Identifier":"\u00a7 22.1-200.03","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Instruction in the principles of the American economic system shall be required in the public middle and high schools<\/span> of the Commonwealth to promote economics education and financial literacy of students and to further the development of knowledge, skills, and attitudes needed for responsible citizenship in a constitutional democracy. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Board<\/span> of Education shall develop and approve objectives for economics education and financial literacy at the middle and high school<\/span> 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. The objectives shall include personal living and finances; personal and business money management skills; opening an account in a financial institution<\/span> and judging the quality of a financial institution<\/span>’s services; balancing a checkbook; completing a loan application; the implications of and differences between various employment arrangements<\/span> with regard to benefits, protections, and long-term financial sustainability; 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; evaluating the economic value of postsecondary studies, including the net cost of attendance, potential student loan debt, and potential earnings; state and federal tax computation; local tax assessments; computation of interest rates by various mechanisms; understanding simple contracts<\/span>; and learning how to contest an incorrect bill. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> To facilitate the objectives of economics education and financial literacy through practical experiences, the Department<\/span> shall confer with the State Corporation Commission’s Bureau of Financial Institutions<\/span>, and financial and relevant professional organizations in the development of guidelines for such literacy objectives. The guidelines shall include (i) rules and policies governing the establishment, operation, and dissolution of school banks and school credit unions; (ii) written agreements between partnering public schools and financial institutions<\/span>, including the disposition<\/span> of funds donated or other financial contributions provided by the partnering financial institution<\/span>; and (iii) such other matters as the Department<\/span> may deem appropriate. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The Board<\/span> shall not be required to evaluate student achievement concerning economics education and financial literacy objectives in the Standards of Learning assessments required by § 22.1-253.13:3<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> For the purposes of this section:\n\t\t\t“At-risk and disadvantaged students<\/span>” means students having socioeconomic or cultural risk factors that research indicates may negatively influence academic achievement or may hinder an individual in reaching his life goals.\n\t\t\t“Employment arrangements<\/span>” means full-time employment, part-time employment, independent contract<\/span> work, gig work, piece work, contingent work, day labor work, freelance work, and 1099 work.\n\t\t\t“Financial institution<\/span>” means a bank, savings and loan association, savings bank, or credit union authorized to conduct business in the Commonwealth.\n\t\t\t“High school<\/span>” includes grades nine through 12.\n\t\t\t“Middle school<\/span>” includes grades six through eight. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nECONOMICS EDUCATION AND FINANCIAL LITERACY REQUIRED IN MIDDLE AND HIGH SCHOOL\nGRADES; BOARD OF EDUCATION TO ESTABLISH OBJECTIVES FOR ECONOMIC EDUCATION AND\nFINANCIAL LITERACY; BANKING-AT-SCHOOL PROGRAMS (\u00a7 22.1-200.03)\n\nA. Instruction in the principles of the American economic system shall be\nrequired in the public middle and high schools of the Commonwealth to promote\neconomics education and financial literacy of students and to further the\ndevelopment of knowledge, skills, and attitudes needed for responsible\ncitizenship in a constitutional democracy.\n\nB. The Board of Education shall develop and approve objectives for economics\neducation and financial literacy at the middle and high school levels, that\nshall be required of all students, and shall provide for the systematic infusion\nof economic principles in the relevant Standards of Learning, and in career and\ntechnical education programs. The objectives shall include personal living and\nfinances; personal and business money management skills; opening an account in a\nfinancial institution and judging the quality of a financial institution’s\nservices; balancing a checkbook; completing a loan application; the implications\nof and differences between various employment arrangements with regard to\nbenefits, protections, and long-term financial sustainability; the implications\nof an inheritance; the basics of personal insurance policies; consumer rights\nand responsibilities; dealing with salesmen and merchants; debt management;\nmanaging retail and credit card debt; evaluating the economic value of\npostsecondary studies, including the net cost of attendance, potential student\nloan debt, and potential earnings; state and federal tax computation; local tax\nassessments; computation of interest rates by various mechanisms; understanding\nsimple contracts; and learning how to contest an incorrect bill.\n\nC. To facilitate the objectives of economics education and financial literacy\nthrough practical experiences, the Department shall confer with the State\nCorporation Commission’s Bureau of Financial Institutions, and financial\nand relevant professional organizations in the development of guidelines for\nsuch literacy objectives. The guidelines shall include (i) rules and policies\ngoverning the establishment, operation, and dissolution of school banks and\nschool credit unions; (ii) written agreements between partnering public schools\nand financial institutions, including the disposition of funds donated or other\nfinancial contributions provided by the partnering financial institution; and\n(iii) such other matters as the Department may deem appropriate.\n\nD. The Board shall not be required to evaluate student achievement concerning\neconomics education and financial literacy objectives in the Standards of\nLearning assessments required by § 22.1-253.13:3.\n\nE. For the purposes of this section:\n\t\t\t“At-risk and disadvantaged students” means students having\nsocioeconomic or cultural risk factors that research indicates may negatively\ninfluence academic achievement or may hinder an individual in reaching his life\ngoals.\n\t\t\t“Employment arrangements” means full-time employment, part-time\nemployment, independent contract work, gig work, piece work, contingent work,\nday labor work, freelance work, and 1099 work.\n\t\t\t“Financial institution” means a bank, savings and loan\nassociation, savings bank, or credit union authorized to conduct business in the\nCommonwealth.\n\t\t\t“High school” includes grades nine through 12.\n\t\t\t“Middle school” includes grades six through eight.\n\nHISTORY: 2005, c. 741; 2017, c. 522; 2021, Sp. Sess. I, c. 25.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}