[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6063152,"mediaKeyId","3270674-f451740e2676f318698548d4503b4a62","parentId",3270674,"title","House Finance panel hears bill to require half‑credit financial literacy for Alaska high schoolers","audioSeconds",2944,"startMs",0,"endMs",2944000,"viewUrl","/Search/View?dp=1&key=3270674-f451740e2676f318698548d4503b4a62&start=0&end=2944","thumbnailUrl","https://assets.pipeline.soar.com/3270674-f451740e2676f318698548d4503b4a62/thumbnail_0.jpg","articleUrl","/articles/6063152/Alaska/House-Finance-panel-hears-bill-to-require-halfcredit-financial-literacy-for-Alaska-high-schoolers","mediaUrl","https://secure.pipeline.soar.com/6063152-b1fed41748582f5c2797d6933ee189ee/orig.mp4?Expires=1775403506&Signature=EVj~tnt2T4XhWd8mdVCldLCGu-AxP5kgnHiH-eJXLi~83qnjH~XUoCle7jn283EcX~3k7MWbm9ARlCsmlNlZDjnxGjpVP1Unq461WblLf6tssG1XrFgg8LlLLi3FcqvWvXY3828KOqn12wTs5TYziNCdcfE5R4CYHlVjHfZEFKvruEeTYIUQxsYfMk9Uz2wKNte-0jtbl4UtDjI5yxKytkPjMtEba0plTrG5h6NgZk6h7Ouc-OrwFUAYsNThKp~STH0ccYLxkhLbbEkOb2xG1LOkUCyy6RBL~2Fs5hLWsSQm4YYL4Ey-lAfQjVd0mGIM2vpMEShlJ2RKS1kOByRIvw__&Key-Pair-Id=KUT5TJCACFTXG","author","Alaska Legislature","date","2025-05-09T00:00:00Z","article","May 9, 2025 — The Alaska House Finance Committee heard introductory testimony on House Bill 90 on May 9, 2025. Sponsor Representative Ted Eisheide (House District 22, Northeast Anchorage) told the committee the bill would add a half‑credit financial literacy requirement for students in grades 9 through 12 and direct the Department of Education and Early Development (DEED) to prepare and approve a list of open educational resources that meet the standard.

\"My hope in introducing this bill is that Alaskan families might benefit from better preparation to save, avoid debt, pay off necessary loans like mortgages, be able to achieve their dreams and their goals for their families, and retire safely and financially secure,\" Representative Ted Eisheide said.

The bill would require instruction equivalent to a half credit (60–90 hours) on topics such as opening and managing accounts, budgeting, credit scores, debt management and loan applications. The draft sectional analysis presented by DEED staff to the committee states the bill adds a new section to \"AS 14.3\" and creates a limited exemption for transfer students who cannot reasonably complete the coursework. The bill sets an applicability date for graduates of 01/01/2027 and an effective date of 07/01/2026.

DEED’s fiscal note, read for the record, requests $76,000 of unrestricted general funds for start‑up work. \"Thirty thousand will be used for the stipends of the 20 members that will get together to create the course and rubric. Forty thousand will be assigned to contracting with an education professional expert, and then $6,000 will be used for regulation changes,\" said Bridal Anderson, staff to Representative Neil Foster, summarizing OMB component 2,796.

Committee members asked about existing programs and implementation. Representative Tomaszewski noted that some schools historically offered economics classes that covered similar topics. Eisheide and his staff emphasized the bill’s intent is to standardize financial literacy statewide while preserving local flexibility: districts may incorporate the required instruction into existing classes (for example, applied math, CTE, health or algebra) or create a standalone course.

Meredith Trainor, staff to Representative Eisheide, described the working‑group proposal in the fiscal note: a 20‑member group that would develop an Alaska‑specific rubric and vet available free resources for posting on the DEED website. \"The working group's goal is to develop a rubric, based on Alaska standards, and then apply that rubric to the various financial literacy resources that are available out there for free,\" Trainor said.

Committee members raised implementation concerns, including whether the fiscal note expenses could be avoided by DEED performing the work internally. Representative Galvin asked whether the requirement would be in statute or administrative code and whether the credit requirement would be practicable for districts. Representative Bynum said he supported the bill’s goals but urged the sponsor to consider options that reduce or eliminate the fiscal note as a barrier to passage.

No public testimony was offered at the hearing. After roughly 30–40 minutes of discussion the committee set the bill aside for later consideration and invited written testimony by email to house.finance@akleg.gov. No motion or vote on HB 90 was taken at the May 9 session.

If enacted as written, House Bill 90 would add a half‑credit financial literacy requirement, require DEED to publish vetted instructional resources, and apply to students graduating after Jan. 1, 2027. The committee did not take formal action on the bill at the May 9 introductory hearing and indicated it will revisit the item at a later meeting.","mediaType","Video","parentTitle","05/09/2025 09:00 AM House FINANCE","oneSentenceSummary","On May 9, 2025 the Alaska House Finance Committee held an introductory hearing on House Bill 90, a proposal from Representative Ted Eisheide to require a half‑credit financial literacy course for students in grades 9–12 statewide.","taxTitle","2025 Legislature Alaska, Alaska","taxId",78559,"location","Alaska","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":46,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6063147,"Invited witnesses tell House Finance bill would curb payday loan debt traps with 36% cap",705,3649000,"/Search/View?dp=1&key=3270674-f451740e2676f318698548d4503b4a62&start=2944&end=3649","https://assets.pipeline.soar.com/3270674-f451740e2676f318698548d4503b4a62/thumbnail_2944000.jpg","/articles/6063147/Alaska/Invited-witnesses-tell-House-Finance-bill-would-curb-payday-loan-debt-traps-with-36-cap","https://secure.pipeline.soar.com/6063147-d98c98d0853b5317c7703bd81b67ff6a/orig.mp4?Expires=1775403506&Signature=OtA6S1GuocEyNO6ty211EanczD6EhKc0QLSnE-QOj4dL3xht1yZWWq3-j2BcuXYjEEJJRirU4b-2y1~-aU526-ud8noGc~aSHkMibhCMdA7MNAiDXRr03EvACYjTdmah1S375lKaT8XBiVMPepHpgGQHWaEl7xOWYEO4Z10i0IqD3DOyjWdXJJft~x22Tj1aXilOx6zyBlg2jVBze7ucaxDHaPaQWL45U4v1S-uYbDtJk92aC4T3cDyGRrJgpP9y3S~nqHzdKReTEQE7vxHAPDBUG8R~0Z~KFIj6HJhM0Wch~RwofojfICL56EMGEZinGaTaeg~STyihw6N6o0a3wA__&Key-Pair-Id=KUT5TJCACFTXG","May 9, 2025 — The Alaska House Finance Committee took invited testimony on Senate Bill 39, a measure to eliminate an exemption for certain short‑term high‑cost loans and to impose a 36% annual percentage rate cap on consumer loans under $25,000.

\"The harm from payday and other high cost loans is powerful and undeniable,\" said Andrew Kushner, Senior Policy Counsel at the Center for Responsible Lending, testifying by phone. Kushner told the committee that the payday industry’s business model depends on repeat borrowing and cited studies showing the majority of fees come from borrowers who take out many loans per year. He also described an \"anti‑evasion\" provision in the bill that would treat online lenders that route loans through out‑of‑state banks as subject to Alaska law.

Trevor Storrs, president and CEO of Alaska Children’s Trust, told the committee SB 39 would reduce economic stress that increases family risk factors for child abuse and neglect. \"The detrimental impact of economic hardships and poverty on family well‑being is widely acknowledged,\" Storrs said, urging lawmakers to adopt safeguards for families.

Claire Lubke, economic justice lead at Alaska Public Interest Research Group, said payday loans operate as a debt trap in Alaska. \"Payday loans are marketed as one‑time emergency loans, but the average payday loan customer in Alaska takes out more than five loans per year,\" Lubke said, and added that APRs charged in some cases reach very high levels.

Kushner urged the committee to adopt a 36% cap, noting that a growing number of states and voters have enacted similar limits and that the bill’s anti‑evasion language mirrors provisions already passed in Maine, New Mexico, Washington, Illinois and Connecticut. He also said no state that outlawed predatory payday lending has subsequently reauthorized it.

Committee leadership paused detailed questions because of a scheduled recess and asked the invited witnesses to be available at a later 1:30 p.m. meeting for additional questioning. The committee kept public testimony open and invited written submissions to house.finance@akleg.gov. No vote or motion was taken on SB 39 during the May 9 session.

If enacted, SB 39 would remove the statutory exemption for certain small‑dollar payday loans and set a 36% APR cap, with an anti‑evasion clause intended to prevent out‑of‑state online lenders from avoiding Alaska law.","On May 9, 2025 the Alaska House Finance Committee heard invited testimony on Senate Bill 39, which would eliminate the payday‑loan exemption and impose a 36% APR cap; invited witnesses from consumer and child‑welfare organizations described payday lenders as creating a cycle of debt and urged the committee to adopt the cap.","actionData","errors"]

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House Finance panel hears bill to require half‑credit financial literacy for Alaska high schoolers

Invited witnesses tell House Finance bill would curb payday loan debt traps with 36% cap