Hawaii House Bill HCR27

Hawaii 2024 Regular Session

• Introduced: 2/29/24
• Refer: 3/8/24

Caption

Urging The Department Of Education To Include The Teaching Of Financial Literacy In The Existing Personal Transition Plan Course Requirement For Each Student.

Impact

If adopted, HCR27 would significantly amend the current educational framework by establishing a standardized approach to teaching financial literacy across all high schools under the Department of Education's jurisdiction. This includes mandating that all students, regardless of their background, receive necessary training in managing finances, which could prepare them for future responsibilities as adults, including managing credit, debt, and investments.

Summary

HCR27 is a House Concurrent Resolution urging the Department of Education in Hawaii to include financial literacy as a mandatory component within the personal transition plan course for all students. The resolution highlights the critical importance of equipping students with essential financial skills, emphasizing that financial literacy is vital for achieving financial success and stability in today's economy. The proponents argue that while financial literacy courses are offered, their elective status fails to ensure that every student is properly educated in these crucial skills.

Contention

The resolution aims to address the shortcomings in the existing educational system, which has historically relied on families to provide financial education. Concerns about disparities in financial education among students, based on their home environments, are brought to the forefront. By requiring a financial literacy component within the transition plan, HCR27 seeks to level the playing field and reduce inequalities related to financial knowledge and independence among Hawaii’s youth. However, debates may arise regarding the feasibility of implementing such requirements and the adequacy of resources available for teaching these subjects.