How long is the Economics and Personal Finance course?

It is a full credit, which usually means a full school year. That is twice the half-credit course many other states require. Students can take it in any year of high school.

Is there a state test for Economics and Personal Finance?

No. The course carries no verified credit, so there is no state end-of-course SOL test tied to it, and state law does not require one. Students earn the credit by passing the course.

Can an IB or business course count instead?

Yes, in some cases. The Board's approved course list names IB Economics and IB Business Management, as long as the state standards are built into the course. The Department of Education also says the 36-week business course version meets all of the course standards.

Is the school course enough on its own?

A full year is more than most states offer, but it still works best when your kid has handled real money first. Habits built at home, with their own allowance and their own choices, give the class something to stick to.

Virginia's Financial Literacy Graduation Requirement

Virginia students need a full credit of Economics and Personal Finance to graduate. Here is what it covers, what changed lately, and how to prepare at home.

In short

Does Virginia require financial literacy to graduate?

Yes. Virginia requires one credit of Economics and Personal Finance (EPF) for both the Standard and Advanced Studies Diplomas. The rule started with students who entered ninth grade in fall 2011, so the class of 2015 was the first bound by it. Students can take the course in any year of high school, and there is no state end-of-course test for it.

Key facts

1 credit of Economics and Personal Finance is required for both the Standard and Advanced Studies Diplomas. Source: 8VAC20-132-51.
Fall 2011 ninth graders were the first required to earn it, so 2015 was the first graduating class. Source: Virginia Department of Education; NGPF.
0 verified credits: there is no state end-of-course SOL test tied to the course. Source: 8VAC20-132-51; Code of Virginia 22.1-200.03.
22 or 26 credits: EPF counts toward the Standard (22) or Advanced Studies (26) Diploma total. Source: 8VAC20-132-51.

Timeline: how the rule got here

Virginia has required the course for more than a decade, so the headline rule is settled. The recent changes are about which courses count, mostly for International Baccalaureate (IB) students.

When	What happened
Fall 2011	Students entering ninth grade are the first who must earn the EPF credit.
Class of 2015	First graduating class bound by the requirement.
September 2024	Graduation rules reissued as 8VAC20-132-51, still with one EPF credit.
August 28, 2025	The Board's approved course list names IB Economics and IB Business Management as EPF options, if the EPF standards are built in.
August 27, 2026	The Board updated its accreditation standards to match a 2026 law on IB diplomas (HB 595 and SB 63).

What counts as meeting the requirement

The requirement is one standard credit in Economics and Personal Finance. It is a separate line in the diploma credit table, not a unit inside history or math, and a student can earn it in any year of high school. According to the Department of Education, the 36-week business course version meets all of the EPF standards, and some school divisions use it to cover the requirement.

State law spells out what the course should teach, and the list is more practical than most. It includes opening an account and judging a bank's services, completing a loan application, managing credit card debt, the basics of insurance, simple contracts, state and federal tax computation, and how to contest an incorrect bill. It also asks students to weigh college costs against potential student loan debt and earnings.

IB students

Since August 2025, IB Economics and IB Business Management can count for EPF when the state standards are built into the course. A 2026 law, HB 595 with its twin SB 63, adds more IB flexibility, including for students who transfer in partway through high school, and the Board aligned its accreditation standards on August 27, 2026. If your teen is on an IB track, ask the school counselor how EPF will show up on the transcript.

What parents can do at home now

A full year of EPF is a lot of class time, and it pays off most for a kid who has already made some money decisions of their own. Paying for something with their own allowance, or regretting a purchase, turns the course's credit and budgeting units into something they recognize. If your kid does not have a phone or tablet yet, you can manage their allowance from your own phone and connect their device later.

Start the habit before the class does

On their own phone or tablet, your child can watch their balance, take on quests, and ask to cash out in the Penny Time app. You set the allowance and approve each request.

How to explain this to your kid

Match the conversation to their age.

Ages 5 to 7: Keep it physical. Let them pay at a store counter and count the change back with you. Money you can see is easier to understand.
Ages 8 to 12: Before a purchase, ask them to compare two options and pick the better deal, then live with the pick. The reasoning matters more than getting it right.
Ages 13 and up: Hand them a real bill or bank statement and ask them to check it for mistakes. Virginia's course covers how to contest an incorrect bill, and it is a skill most adults learn the hard way. To see how interest works on debt and savings, try our compound interest calculator.

Frequently Asked Questions

: Yes. Virginia requires one credit of Economics and Personal Finance for both the Standard Diploma and the Advanced Studies Diploma. It has applied since students who entered ninth grade in fall 2011, the class of 2015.
: It is a full credit, which usually means a full school year. That is twice the half-credit course many other states require. Students can take it in any year of high school.
: No. The course carries no verified credit, so there is no state end-of-course SOL test tied to it, and state law does not require one. Students earn the credit by passing the course.
: Yes, in some cases. The Board's approved course list names IB Economics and IB Business Management, as long as the state standards are built into the course. The Department of Education also says the 36-week business course version meets all of the course standards.
: A full year is more than most states offer, but it still works best when your kid has handled real money first. Habits built at home, with their own allowance and their own choices, give the class something to stick to.

Sources

8VAC20-132-51, graduation requirements (Virginia Administrative Code) - one EPF credit and no verified credit for both diplomas; 22 and 26 credit totals; effective September 25, 2024.
Code of Virginia 22.1-200.03, economics education and financial literacy - the topics the course must cover and the rule that SOL tests are not required for them.
Virginia Department of Education, Economics and Personal Finance - the fall 2011 start, earning the credit any time in high school, and the 36-week business course.
Virginia Department of Education, Advanced Studies Diploma requirements - the August 28, 2025 approved-course update for IB courses and the August 27, 2026 update for HB 595 and SB 63.
NGPF Live US Dashboard - Virginia's one-year EPF course, required since the class of 2015.

This is general information about education policy, not legal or financial advice. Graduation requirements change and vary by state. Verify current requirements with your school or the Virginia Department of Education before relying on any of this for your kid's plan.

Raise kids who understand how money works

Download the app, add your child, and connect their phone or tablet by scanning a code. About a minute, no email needed for kids.

How setup works for you and your child →

No ads. No data selling. No credit card.