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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Washington college students could get course in financial literacy

OLYMPIA – Incoming freshmen at Washington’s public colleges will get a course in financial literacy starting with the upcoming school year, if the Legislature gives the schools the money to pay for it.

A bill signed Thursday requires the state’s colleges and universities to make sure new students take a seminar that provides them with information about financial aid, scholarships, work study and loan options, and an overview of their costs and consequences. It also must provide information on average salaries for a range of jobs and contact information for financial aid resources.

The state has required such a seminar for students receiving the State Need Grant for five years, and this year the Legislature by large bipartisan margins voted to extend the seminars to all students, provided the agreement on a 2017-19 operating budget includes some $480,000 - the estimated cost to offer it at all four-year and community colleges.

Gov. Jay Inslee called it a “reasonable step” but added it would also help if the Legislature came up with more money for students on the waiting list for State Need Grants.