HB 936: RELATING TO FINANCIAL LITERACY.

A BILL FOR AN ACT

relating to financial literacy.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  The legislature finds that financial literacy is a critical skill for ensuring personal and societal financial stability.  Many students graduate without essential knowledge of budgeting, saving, investing, or managing credit, which impacts their ability to achieve financial independence.  To equip students with these essential skills, mandating financial literacy education as part of the high school curriculum is necessary.

     The legislature further finds that financial literacy empowers students to effectively manage a budget, enabling them to make informed decisions about spending and saving.  In Hawaii, where the cost of living is among the highest in the nation, these skills are particularly vital for maintaining financial well-being.  The legislature believes that teaching students how to balance the demands of daily expenses, housing costs, and long-term financial goals will ensure students are better prepared to thrive economically in their communities.

     Accordingly, the purpose of this Act is to ensure students are equipped to navigate complex financial challenges and contribute to a stable economy by requiring the department of education to develop and implement a statewide financial literacy curricula plan for public high schools.

     SECTION 2.  Chapter 302A, Hawaii Revised Statutes, is amended by adding a new section to part II, subpart B, to be appropriately designated and to read as follows:

     "§302A-     Financial literacy; curricula plan; public schools.  (a)  The department shall develop and implement a statewide financial literacy curricula plan for public school students in grades nine through twelve.  The department shall review and determine into which courses personal financial literacy shall be integrated.

     (b)  Beginning with the 2026-2027 school year, all public high schools shall offer instruction in financial literacy as a requirement for graduation.  The curriculum shall include, at a minimum, the following topics:

     (1)  Basic budgeting and financial planning;

     (2)  Saving, investing, and retirement planning;

     (3)  Credit management, including credit scoring and debt management;

     (4)  Understanding taxes and tax planning;

     (5)  Loans and interest, including mortgages, car loans, and student loans;

     (6)  Fraud prevention and identity theft; and

     (7)  Economic principles and entrepreneurship.

Public high schools may integrate financial literacy into existing coursework, including in the personal transition plan requirement for students; provided that the topics listed in this subsection are fully covered in the coursework.

     (c)  The department shall provide professional development opportunities for teachers on financial literacy, including:

     (1)  Workshops, summer programs, and online resources; and

     (2)  Approved training from national and state‑level financial education organizations.

     (d)  The department shall facilitate the integration of financial literacy in public high school curriculum through:

     (1)  The development of phased training schedules to ensure teachers are prepared to implement the curriculum by the beginning of the 2026-2027 school year; and

     (2)  Conducting pilot programs in select schools prior to the 2026-2027 school year to test and refine the financial literacy curriculum.

     (e)  The department may collaborate with public agencies and private and nonprofit organizations to:

     (1)  Develop interactive and engaging teaching materials; and

     (2)  Provide online tools and curriculum guides.

     (f)  There is established within the department's office of curriculum and instructional design a coordinator position to:

     (1)  Oversee the implementation of the financial literacy curriculum;

     (2)  Ensure consistency and quality in the financial literacy curriculum, including by reviewing the curriculum every three years; and

     (3)  Solicit feedback from educators, students, and financial experts to refine and improve the financial literacy curriculum.

     (g)  The board shall publish any approved financial literacy resources and curriculum standards established pursuant to this section on the board's website.

     (h)  The board shall adopt rules in accordance with chapter 91 necessary to implement this section.

     (i)  As used in this section:

     "Financial literacy" means the knowledge and skills required to make informed and effective decisions regarding the use and management of financial resources."

     SECTION 3.  (a)  By December 31, 2025, the department of education shall:

     (1)  Finalize the financial literacy curriculum guidelines and professional development plans required pursuant to section 302A-   , Hawaii Revised Statutes; and

     (2)  Publish a plan for the implementation of financial literacy in public high schools.

     (b)  Beginning with the 2026-2027 school year:

     (1)  All public high schools shall implement the financial literacy graduation requirement as required pursuant to section 302A-   (b), Hawaii Revised Statutes; and

     (2)  Establish a dedicated transition support team to provide on-site assistance during the first year of the implementation of the financial literacy curriculum required pursuant to section 302A-   , Hawaii Revised Statutes.

     SECTION 4.  New statutory material is underscored.

     SECTION 5.  This Act shall take effect upon its approval.

Report Title:

Board of Education; Department of Education; Financial Literacy; Curriculum; Public High Schools; Professional Development

Description:

Beginning with the 2026-2027 school year, requires the Department of Education to develop and implement a statewide financial literacy curricula plan for public high schools.  Requires all public high schools to offer instruction in financial literacy as a requirement for graduation.  Requires the Department of Education to provide professional development to teachers on financial literacy.  Requires the Board of Education to adopt administrative rules to implement the financial literacy education curriculum.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.