THE SENATE |
S.C.R. NO. |
152 |
THIRTY-FIRST LEGISLATURE, 2021 |
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STATE OF HAWAII |
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SENATE 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 Senate of the Thirty-first Legislature of the State of Hawaii, Regular Session of 2021, the House of Representatives 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.
 
 
 
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OFFERED BY: |
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Report Title:  
Department of Education; Financial Literacy