02/24/2025 03:30 PM Senate EDUCATION

          SB  22-FINANCIAL LITERACY PROGRAM IN SCHOOLS                                                                      
                                                                                                                                
4:28:17 PM                                                                                                                    
CHAIR   TOBIN   reconvened   the  meeting   and   announced   the                                                               
consideration  of  SENATE BILL  NO.  22  "An Act  establishing  a                                                               
financial  literacy education  program  for  public schools;  and                                                               
providing for an effective date."                                                                                               
                                                                                                                                
4:28:28 PM                                                                                                                    
HUNTER  LOTTSFELDT,  Staff,  Senator  Bill  Wielechowski,  Alaska                                                               
State Legislature, Juneau, Alaska, provided  a brief review of SB
 stating it would establish  a graduation requirement of a half                                                               
credit in financial literacy for  Alaska high school students. He                                                               
explained that the course would  cover fundamental skills such as                                                               
balancing a checkbook and extend  to learning how to complete the                                                               
Free Application  for Federal Student  Aid (FAFSA) and  apply for                                                               
financial aid.                                                                                                                  
                                                                                                                                
4:29:02 PM                                                                                                                    
CHAIR TOBIN opened public testimony on SB 22.                                                                                   
                                                                                                                                
4:29:22 PM                                                                                                                    
FLORA TEO,  President, Junior  Achievement of  Alaska, Anchorage,                                                               
Alaska, testified  in support of  SB 22.  She stated, she  has 24                                                               
years of experience educating 15,000  youth annually in financial                                                               
literacy,  work readiness,  and  entrepreneurship,  that she  has                                                               
seen the  effects of financial  illiteracy across the  state. She                                                               
said many  Alaskans struggle with  debt, credit, and  basic money                                                               
management,  which   can  result  in  financial   insecurity  and                                                               
poverty.  She emphasized  that  including  financial literacy  in                                                               
school   curricula  will   empower  students   to  manage   money                                                               
confidently,   avoid  debt,   and   reach  financial   stability,                                                               
particularly  benefiting low-income  and  minority students.  She                                                               
praised  Senators Wielechowski  and  Gray-Jackson for  sponsoring                                                               
the  bill, and  urged its  passage  to help  build a  financially                                                               
literate and economically secure generation for Alaska.                                                                         
                                                                                                                                
4:31:22 PM                                                                                                                    
KARI   NORTE,  Director,   External   Affairs,  Alaska   Chamber,                                                               
Anchorage,  Alaska, testified  in support  of SB  22. She  stated                                                               
that the  Alaska Chamber, the  state's largest  business advocacy                                                               
organization, represents  over 700  members, 58,000  workers, and                                                               
$4.6  billion in  wages.  She  said the  Chamber  holds a  formal                                                               
policy position  to support the  adoption of  financial education                                                               
as a  graduation requirement  by the  state or  school districts.                                                               
She  explained that  teaching financial  literacy in  high school                                                               
equips students  with essential money management  skills, reduces                                                               
debt and  financial insecurity,  and promotes  economic stability                                                               
and individual well-being. She noted  that SB 22 includes free or                                                               
low-cost resources  and a delayed effective  date, giving schools                                                               
time to prepare and implement the curriculum.                                                                                   
                                                                                                                                
4:33:11 PM                                                                                                                    
CHAIR TOBIN closed public testimony on SB 22.                                                                                   
                                                                                                                                
4:33:19 PM                                                                                                                    
CHAIR TOBIN [held SB 22 in committee.]                                                                                          
                                                                                                                                
4:33:28 PM                                                                                                                    
MR. LOTTSFELDT thanked the committee for hearing SB 22.