Virginia Code 23.1-901: Programs on economics education and financial literacy.
A. Public institutions of higher education shall promote the development of student life skills by including the principles of economics education and financial literacy within an existing general education course, the freshman orientation process, or another appropriate venue. Such principles may include instruction concerning personal finance such as credit card use, opening and managing an account in a financial institution, completing a loan application, managing student loans, savings and investments, consumer rights and responsibilities, predatory lending practices and interest rates, consumer fraud, identity theft and protection, and debt management.
Terms Used In Virginia Code 23.1-901
- Council: means the State Council of Higher Education for Virginia. See Virginia Code 23.1-100
- Fraud: Intentional deception resulting in injury to another.
- Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
- Venue: The geographical location in which a case is tried.
B. The Council shall encourage private institutions of higher education to include such principles as part of their student orientation programs.