Nationwide, when high school seniors are tested on their knowledge of simple financial principles, like compound interest or credit, they score less than 50%, and the average college freshman has 3 credit cards and more than $3,000 in debt.  In 2005, the national savings rate fell into negative territory for the first time since the Great Depression.  At this hearing, the committee will be taking testimony on how we as a state can reverse this alarming trend.  Representatives from financial services companies, non-profit organizations, and the academic community are all scheduled to appear (see attached draft agenda).  Also speaking will be John Hope Bryant a national community leader cited by the past four past U.S. presidents for his work to empower low-wealth communities and author of Banking on the Future, a book on youth and family financial literacy.