HOUSE OF REPRESENTATIVES

H.C.R. NO.

65

THIRTY-FIRST LEGISLATURE, 2021

 

STATE OF HAWAII

 

 

 

 

 

HOUSE CONCURRENT

RESOLUTION

 

 

urging the department of education to coordinate with the department of commerce and consumer affairs to implement a graduation requirement of at least a half credit in financial literacy during the junior year or senior year.

 

 

 


     WHEREAS, financial literacy is the capacity, based on knowledge, skills, and access, to manage financial resources effectively; and

 

     WHEREAS, students lacking financial literacy are more likely to have lower credit scores and financial problems than those who received instruction regarding financial matters; and

 

     WHEREAS, the lack of financial literacy education significantly limits social and income mobility of students from moderate- and low-income communities; and

 

     WHEREAS, Hawaii ranks among the ten states with the lowest level of high school financial literacy in the nation; and

 

     WHEREAS, twenty-one states require students to have taken a financial literacy course in order to graduate; and

 

     WHEREAS, the Department of Education, in coordination with the Department of Commerce and Consumer Affairs, offer several financial literacy materials and instruction, but lack a comprehensive financial literacy standard and curriculum; and

 

     WHEREAS, in 2015, the Legislature requested the Department of Education to establish a Hawaii public schools financial literacy task force through Senate Concurrent Resolution 97, S.D. 1; and

     WHEREAS, the task force submitted a report to the Legislature recommending the implementation of a financial literacy program in schools; now, therefore,

 

     BE IT RESOLVED by the House of Representatives of the Thirty-first Legislature of the State of Hawaii, Regular Session of 2021, the Senate concurring, that the Department of Education, in coordination with the Department of Commerce and Consumer Affairs, is urged to implement a graduation requirement of at least a half credit in financial literacy during the junior year or senior year; and

 

     BE IT FURTHER RESOLVED that the curricula include practical information relating to banking, credit cards, student loans, filing taxes, credit scores, savings and investments, rental deposits, and wages and benefits analysis; and

 

     BE IT FURTHER RESOLVED that certified copies of this Concurrent Resolution be transmitted to the Chairperson of the Board of Education, Superintendent of Education, and Director of Commerce and Consumer Affairs.

 

 

 

 

OFFERED BY:

_____________________________

 

 

Report Title: 

Department of Education; Financial Literacy