Hawaii House Bill HB1307

Hawaii 2023 Regular Session

• Introduced: 1/25/23
• Refer: 1/30/23

Caption

Relating To Education.

Impact

Starting with the 2024-2025 school year, all students in Hawaii will be required to receive financial literacy education as part of their personal transition plan. This initiative allows schools to customize their financial literacy programs based on community needs and stakeholder input, ensuring the education is relevant and practical. The curriculum may cover a range of topics, including budgeting, debt management, credit, and tax planning, which are crucial for fostering informed and responsible financial decision-making among young residents.

Summary

House Bill 1307 aims to enhance financial literacy education in Hawaii by requiring the Department of Education to integrate financial literacy into the existing personal transition plan curriculum for students. The bill recognizes the importance of equipping students with essential financial management skills, particularly as the education system has historically assumed that these skills would naturally be taught at home. With the lack of comprehensive financial education being a barrier to students' future financial stability, this bill seeks to address that gap.

Contention

While the bill is primarily aimed at empowering students with financial skills, it may face challenges related to implementation, such as the availability of resources and training for teachers. Additionally, there may be differing opinions on the adequacy of the financial literacy curriculum and whether it meets the diverse needs of students across different communities in Hawaii. The success of this bill will largely depend on the support and engagement of educational stakeholders, including parents, teachers, and the wider community.