CFED Scorecard

Financial Assets & Income

Outcome Measures

Income Poverty Rate

Asset Poverty Rate

Asset Poverty by Race

Asset Poverty by Gender

Asset Poverty by Family Structure

Liquid Asset Poverty Rate

Liquid Asset Poverty by Race

Liquid Asset Poverty by Gender

Liquid Asset Poverty by Family Structure

Extreme Asset Poverty Rate

Net Worth

Net Worth by Race

Net Worth by Income

Net Worth by Gender

Net Worth by Family Structure

Unbanked Households

Underbanked Households

Households with Savings Accounts

Consumers with Subprime Credit

Borrowers 90+ Days Overdue

Average Credit Card Debt

Bankruptcy Rate

Policy Priorities

Tax Credits for Working Families

State IDA Program Support

Lifting Asset Limits in Public Benefit Programs

Protections from Predatory Short-Term Loans

Additional Policies

Income Tax Threshold

Tax Burden by Income

Prize-Linked Savings

Paperless Payday

Trend Indicators

Change in Net Worth

Change in Asset Poverty

Change in Liquid Asset Poverty

Change in Consumers with Subprime Credit

Change in Average Credit Card Debt

Businesses & Jobs

Housing & Homeownership

Health Care

Education

CFED Assets & Opportunity Scorecard

Alaska

Reports & Graphics

CONNECT TO
STAKEHOLDERS
IN ALASKA

 

Lead State Organization

This state doesn’t have a Lead State Organization.

 

Lead Local Organization

This state doesn’t have a Lead Local Organization.

 

Click here to learn how to join the Network.

 

WHAT ALASKA CAN DO

There are many policies that Alaska could enact to improve its climate for asset building and preservation:

Improve Financial Capability: To increase credit scores, lower credit card debt and connect consumers to mainstream financial products, Alaska should help residents maximize earnings by adopting a state EITC and help them manage their finances by requiring financial education in K-12 education.

Increase College Attainment: To increase college attainment, particularly among people of color, Alaska should create incentives for college savings by matching deposits into 529 accounts and minimizing barriers to education savings.

Expand Health Care Coverage: To reduce the number of uninsured residents, Alaska should increase the income threshold for parents who apply for public health care as well as cover childless adults and implement procedures that facilitate enrollment and renewal of coverage in CHIP and Medicaid.

Overall Rank: 7

Outcome Rankings

Issue Area Rank: 10 | Grade: A

Outcome Measure State Data US Data Rank
Income Poverty Rate 8.5% 14.6% 1
Asset Poverty Rate 26.0%
Asset Poverty by Race 2.1 x higher
for HHs
of color
Asset Poverty by Gender 1.1 x higher
for single women
Asset Poverty by Family Structure 2.2 x higher
for 1-parent HHs
Liquid Asset Poverty Rate 43.9%
Liquid Asset Poverty by Race 1.8 x higher
for HHs
of color
Liquid Asset Poverty by Gender 1.09 x higher
for single women
Liquid Asset Poverty by Family Structure 1.9 x higher
for 1-parent HHs
Extreme Asset Poverty Rate 17.5%
Net Worth $68,948
Net Worth by Race 10.3 x higher
for white HHs
Net Worth by Income 68 x higher
for top 20%
Net Worth by Gender 1.18 x higher
for single men
Net Worth by Family Structure 22 x higher
for 2-parent HHs
Unbanked Households 5.2% 8.2% 15
Underbanked Households 20.2% 20.1% 30
Households with Savings Accounts 83.8% 69.2% 2
Consumers with Subprime Credit 55.6% 56.4% 29
Borrowers 90+ Days Overdue 2.76% 4.33% 3
Average Credit Card Debt $10,966 $10,736 34
Bankruptcy Rate (per 1,000 people) 1.3 4.4 1
   
Additional Policies
Income Tax Threshold — No state income tax
Tax Burden by Income — The poorest 20% of families pay 2.9 times more of their income in taxes than the top 1% of families
Prize-Linked Savings — Existing laws may allow for prize-linked savings
Paperless Payday — Paperless payday not permitted

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Outcome Rankings

Issue Area Rank: 2 | Grade: A

Outcome Measure State Data US Data Rank
Microenterprise Ownership Rate 17.4% 16.7% 13
Small Business Ownership Rate 1.56% 1.34% 11
Business Ownership by Race 1.2 x higher
for white workers
1.5 x higher
for white workers
3
Business Ownership by Gender 1.2 x higher
for men
1.3 x higher
for men
17
Business Value by Race 2.6 x higher
for white bus. owners
2.6 x higher
for white bus. owners
28
Business Value by Gender 2.3 x higher
for men
2.6 x higher
for men
9
Business Creation Rate (per 1,000 workers) 12.2 9.2 9
Private Loans to Small Business $1,627 $1,148 3
Unemployment Rate 7.6% 8.9% 19
Unemployment by Race 1.6 x higher
for people
of color
1.7 x higher
for people
of color
15
Underemployment Rate 13.5% 15.9% 16
Low-Wage Jobs 6.8% 21.5% 2
Average Annual Pay $46,544 $48,043 21
Retirement Plan Participation 50.0% 44.6% 13
Employers Offering Health Insurance 39.2% 51.0% 51
   

Policy Ratings

Policy Priorities
0.25 State Support for Microenterprise
0 Job Quality Standards
Additional Policies
Unemployment Benefit Level — 26.2% of average weekly wage
Unemployment Benefit Eligibility — Uses alternative base period; Benefits for compelling family reasons; Part-time workers not covered
Incentives for Employee Ownership — WIA-funded feasibility studies; Not all criteria met
Loans for Beginning Farmers — No state policy

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Outcome Rankings

Issue Area Rank: 2 | Grade: A

Outcome Measure State Data US Data Rank
Homeownership Rate 63.1% 64.6% 41
Homeownership by Race 1.3 x higher
for white HHs
1.6 x higher
for white HHs
6
Homeownership by Income 2.2 x higher
for top 20%
2.2 x higher
for top 20%
21
Homeownership by Gender 1.13 x higher
for single men
1.01 x higher
for single women
Homeownership by Family Structure 1.4 x higher
for 2-parent HHs
1.9 x higher
for 2-parent HHs
1
Foreclosure Rate 1.20% 4.27% 3
Delinquent Mortgage Loans 1.13% 3.04% 3
High-Cost Mortgage Loans 0.95% 2.47% 9
Affordability of Homes (value/income) 3.5 x higher than median income 3.4 x higher than median income 30
Housing Cost Burden - Homeowners 32.0% 36.9% 17
Housing Cost Burden - Renters 44.3% 53.4% 5
   
Additional Policies
Housing Trust Funds — No statewide housing trust fund
Preservation of Affordable Rental Housing — 100.0% of LIHTC for preservation
Tenant Protections from Foreclosure — Has protections beyond federal law
Property Tax Relief — Tax deferment; No circuit breaker
Resident Ownership of Manufactured Housing Communities — No protections for homeowners

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Outcome Rankings

Issue Area Rank: 35 | Grade: C

Outcome Measure State Data US Data Rank
Uninsured Rate 21.7% 17.3% 46
Uninsured by Race 1.7 x higher
for people
of color
2 x higher
for people
of color
17
Uninsured by Income 1.9 x higher
for poorest 20%
3.5 x higher
for poorest 20%
2
Uninsured by Gender 1.2 x higher
for men
1.2 x higher
for men
31
Uninsured Low-Income Children 12.5% 10.7% 40
Uninsured Low-Income Parents 34.3% 34.5% 29
Employer-Provided Insurance Coverage 53.2% 57.4% 42
Employee Share of Premium 26.4% 26.4% 25
Out-of-Pocket Medical Expenses 16.2%
   

Policy Ratings

Policy Priorities
0.5 Access to Health Insurance
Additional Policies
Expanded COBRA Coverage — No state policy
Healthcare Information Databases — Does not have database

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

Outcome Rankings

Issue Area Rank: 30 | Grade: C

Outcome Measure State Data US Data Rank
Early Childhood Education Enrollment 17.5% 28.2% 36
Math Proficiency - 8th Grade 35.2% 34.7% 23
Reading Proficiency - 8th Grade 31.0% 33.5% 34
High School Degree 91.8% 85.9% 4
Two-Year College Degree 33.8% 36.3% 36
Four-Year College Degree 26.4% 28.5% 30
Four-Year Degree by Race 2.1 x higher
for white adults
1.6 x higher
for white adults
45
Four-Year Degree by Income 3.9 x higher
for top 20%
4.6 x higher
for top 20%
19
Four-Year Degree by Gender 1.21 x higher
for women
1.01 x higher
for men
Average College Graduate Debt $26,600
College Graduates with Debt 66%
Student Loan Default Rate 11.4% 13.4% 25
   
Additional Policies
State-Funded Head Start — $7,292,600 in supplemental funds
Quality of State Pre-K Programs — Established state program; $6,855 per child enrolled; 10 of 10 quality standards met
Kindergarten Standards — No Kindergarten offered; no standards; no certificates or training required for teachers
State Financial Aid for Postsecondary Education — $75 per student; 100% need-based
TANF-Funded Workforce Training — 0% of funds spent on training
WIA-Funded Workforce Training — 78.4% of participants received training

Footnotes

"—" Not Available. Data or ranks are not available because insufficient or unreliable data exist for the state.

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