Policy
This policy outlines the requirements for the delivery of financial literacy education in Victorian government schools.
Summary
- Every Victorian government school must deliver financial literacy education as part of the Victorian Curriculum through the Economics and Business and Mathematics learning areas.
- Victorian government schools cannot provide a School Banking Program from an Authorised Deposit-taking Institution (ADI), such as a bank, credit union or building society.
- Victorian government schools are also prohibited from:
- allowing an ADI to deliver any form of financial literacy education to their students
- using learning and teaching resources created or sponsored by an ADI to provide financial literacy education to students.
Details
Under the minimum standards for school registration, every Victorian government school must deliver financial literacy education as part of the Victorian Curriculum (version 1.0), specifically:
- in the Economics and Business learning area (Levels 5–10), through the ‘Consumer and Financial Literacy’ strand
- in the Mathematics learning area (Levels F–10) through the ‘Number and Algebra’ strand, which has a sub-strand called ‘Money and financial mathematics’.
Financial literacy education forms part of the ‘Number’, ‘Algebra’, and ‘Measurement’ strands of Mathematics in the Victorian Curriculum F–10 (implemented from 2025) and the Economics and Business (Levels 5–10) learning area (implemented from 2026).
Victorian government schools cannot provide a School Banking Program from an Authorised Deposit-taking Institution (ADI) such as a bank, credit union or building society.
Victorian government schools are also prohibited from:
- allowing an ADI to deliver any other form of financial literacy education to their students, including via face-to face, virtual or blended delivery modes
- using learning and teaching resources (for example, apps, worksheets, videos) including ADI branding, or those created or sponsored by an ADI, for the purpose of providing financial literacy education to students.
Further restrictions on School Banking Programs in Victorian government schools can be found in the department's Sponsorship policy.
Further information on financial literacy – what it is, why it is important and considerations for teaching it, is available on the Guidance tab.
Resources for school leaders to assist with the implementation of this policy and its communication to the wider school community are available on the Resources tab.
Department-curated teaching and learning resources to assist in teaching financial literacy in Victorian government schools can be accessed through the Resources tab.
Schools who require support in disengaging from a School Banking Program can contact the Arts, Humanities and Health and Physical Education Unit on 03 7022 2364 or studentlearning@education.vic.gov.au
Definitions
Authorised Deposit-taking Institutions (ADI)
ADIs are institutions like banks, credit unions, building societies and other mutual organisations that offer deposit products in Australia. ADIs are supervised by the Australian Prudential Regulation Authority (APRA) and must comply with the Corporations Act 2001.
School Banking Programs (SBPs)
SBPs are programs where an ADI offers deposit products to the students at a school, these students are encouraged to establish bank accounts and make ongoing deposits into those accounts at the school.
Related policies
Reviewed 25 August 2025