STAND. COM. REP. NO. 1278

Honolulu, Hawaii

RE: S.C.R. No. 81

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sir:

Your Committee on Education, to which was referred S.C.R. No. 81 entitled:

"SENATE CONCURRENT RESOLUTION URGING THE DEPARTMENT OF EDUCATION TO INCLUDE THE TEACHING OF FINANCIAL LITERACY IN THE EXISTING PERSONAL TRANSITION PLAN COURSE REQUIREMENT FOR EACH STUDENT,"

begs leave to report as follows:

The purpose and intent of this measure is to urge the Department of Education to include the teaching of financial literacy in the existing personal transition plan course requirement for each student.

Your Committee received testimony in support of this measure from the Hawaii Credit Union League and one individual. Your Committee received comments on this measure from the Department of Education.

Your Committee finds that financial literacy education is a lifelong learning process that empowers individuals to plan for their futures. In the past, the educational system has assumed that students will learn important financial skills from their families. However, not all students are being taught the financial skills they will need to be successful later in life. The lack of financial literacy in students poses a significant barrier for individuals seeking to achieve financial prosperity and stability. Your Committee further finds that although the Department of Education offers a financial literacy elective course, it is not required. This measure will encourage the Department of Education to make financial literacy part of required course work.

Your Committee has amended this measure by specifying that the Department of Education is urged to ensure consistency in the financial literacy course.

As affirmed by the record of votes of the members of your Committee on Education that is attached to this report, your Committee concurs with the intent and purpose of S.C.R. No. 81, as amended herein, and recommends its adoption in the form attached hereto as S.C.R. No. 81, S.D. 1.

Respectfully submitted on behalf of the members of the Committee on Education,

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MICHELLE N. KIDANI, Chair