Alaska mandates financial literacy program for high school graduation

The Alaska State Legislature has introduced Senate Bill 22, aimed at mandating financial literacy education for high school students. Introduced on February 27, 2025, the bill seeks to ensure that students complete a comprehensive financial literacy program before receiving their high school diplomas.

The key provisions of SB 22 outline a curriculum that covers essential financial topics, including managing bank accounts, budgeting, understanding credit and debt, completing loan applications, and navigating personal insurance policies. Additionally, the program addresses tax computation, fraud prevention, and the financial implications of Native corporation membership, among other topics. The bill emphasizes practical skills that students can apply in real-life financial situations.

Notably, the bill includes a provision allowing schools to issue diplomas to students who transfer from other districts after completing grade 10, even if they have not completed the financial literacy program. This aims to accommodate students who may face challenges in meeting the new requirements due to their transfer status.

The introduction of SB 22 has sparked discussions among lawmakers and educators regarding its potential impact on students' preparedness for financial responsibilities in adulthood. Proponents argue that equipping students with financial knowledge is crucial in today's economy, where financial mismanagement can lead to significant long-term consequences. Critics, however, express concerns about the feasibility of implementing such a program statewide, particularly in underfunded districts.

The bill's implications extend beyond education, as it may influence the financial well-being of future generations in Alaska. By fostering financial literacy, lawmakers hope to reduce instances of debt and financial fraud among young adults, ultimately contributing to a more financially informed populace.

As SB 22 moves through the legislative process, its supporters are optimistic about its potential to enhance the educational landscape in Alaska, while opponents continue to voice their concerns. The bill's progress will be closely monitored as it heads to committee discussions and potential amendments in the coming weeks.