One adult family member in every Step Program family must complete a financial literacy requirement by the end of the first year of participation. To fulfill the financial literacy requirement, Alaska Housing is providing families with three options. If you have a problem with any of these steps, you can visit the FSS offices in Anchorage or Juneau or call toll free 1-877-AKGOALS (254-6257) for assistance.
Option 1: Self-study
If an adult family member already has strong money management skills, this option is available. To complete this option:
- Use the suggested sources on the Financial Literacy Resources page to strengthen skills before taking the test.
- Complete Alaska Housing’s Financial Literacy Test and press the submit button.
- An Alaska Housing representative will contact the family within approximately 30 days with the result.
- If the family member fails the test, option 2 or 3 may be completed to meet the financial literacy requirement.
Option 2: FDICs Money Smart program
To complete this option, you will log into Money Smart (an FDIC-sponsored program) and complete three online training modules. The steps to complete this option:
- Go to: https://www.fdic.gov/consumers/consumer/moneysmart/.
- Click Learn in the middle of the page.
- Under Computer Based Instruction, Click Enter CBI Online.
- Click Register at the top of the page and fill out the information on that screen to receive your user name and password.
- Choose Adult (over 21) – NOT Young Adult (age 13-21).
- You will now see module choices. Choose one module from each of the Financial Literacy Objectives:
- Budget: Money Matters OR Financial Recovery (Parts 1 and 2)
- Banking Skills: Bank On It OR Check It Out
- Credit: Borrowing Basics OR To Your Credit OR Charge It Right OR Loan to Own Parts 1 and 2 (also offered: Keep It Safe; Your Own Home; Pay Yourself First)
- After successfully completing each module, print a certificate. You can return to the log-in page with your user name and password at any time to access the certificates.
- Turn in all three certificates to your local AHFC office.
Option 3: Financial literacy course
Alaska Housing recognizes many courses are already being offered throughout Alaska. Please check the attached list, Financial Literacy Resources, for the most current information or contact FSS staff to assist you with selecting a course that meets the Alaska Housing objectives.
To complete this option:
- Enroll in and complete the financial literacy/money management course.
- Provide Alaska Housing with documentation that you have completed the course: either a certificate of completion or letter from the organization providing the course with the date of the course, your name, and their signature.
Questions? Call 855-686-3751 (907-586-3751 in Juneau), or email us at firstname.lastname@example.org