#YP4HI: Can We Get Financial Literacy into Hawaii's Schools?

YP4HI: Can We Get Financial Literacy into Hawaii’s Schools?
 
Studies show that the unequal access to financial education is a key contributor to the wealth gap in the U.S.  While some children have the benefit of having parents teach them about budgeting, saving, investing, developing credit, and other financial topics, many do not.  Less privileged children must rely upon their teachers, counselors, and peers for the information. 
 
So, what are Hawaii schools doing to ensure that students are prepared for the real world -- especially in Hawaii where the cost of living is the highest in the nation? 
 
Perhaps, not enough.  The American Public Education Foundation gave Hawaii a “D” grade for our financial literacy efforts in public schools.  Additionally, at our YP Cost of Living Summit in May 2023, YPs suggested more robust financial literacy as a potential pathway to retain young people in Hawaii. 
 
The proposed integration of financial literacy in schools is not new.  In 2015, the Hawaii Legislature established the Financial Literacy Task Force to examine the topic in depth.  The Task Force submitted a report in 2016 that reiterated the importance of financial literacy, discussed some of the barriers to implementing financial-related curricula in schools, and made recommendations for the DOE.  The moral of the story -- implementation is easier said than done.
 
At this YP4HI roundtable discussion, we will hear from the Financial Literacy Task Force’s chair (Ken Hiraki) and one of its members (Elizabeth Higashi) on has been done to get financial literacy in schools.  They will then turn to you for ideas on how to implement financial literacy in public schools.
 
Presenters:
 

• Ken Hiraki is the Executive Director of the Public Schools of Hawaii Foundation.  Previously, he served as the Director of Government Affairs for the Hawaii Association of Realtors, the Director of Government Affairs for Hawaiian Telcom, and an elected member of the Hawaii State Legislature, where he served for 19 years. 

• Elizabeth Higashi is the Director of the Community Engagement Branch of the DOE’s Office of Strategy, Innovation, and Performance.  Previously, she was the Assistant Principal at Waipahu High School. 

• 10 minutes – presentation on the topic
• 10 minutes – Q&A on the topic
• 40 minutes – small group discussion by YPs with the presenter listening in (observer only)
• 5 minutes – presenter provides feedback on the ideas