Young Americans Financial Literacy Act
Latest action: Referred to the Committee on Financial Services, and in addition to the Committee on Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. · Jan 16, 2025
View full text on Congress.gov ↗ Policy area: Finance and Financial Sector
Young Americans Financial Literacy Act This bill requires the Consumer Financial Protection Bureau to award competitive grants to eligible institutions for the establishment of financial literacy education programs for young people and families. An eligible institution is a partnership among two or more of the following: an institution of higher education; a state or local government agency specializing in financial education; a nonprofit agency, organization, or association; a financial institution; or another small organization. Authorized grant funded activities shall include developing and implementing comprehensive, research based, financial-literacy education programs for young people; developing and supporting the delivery of professional development programs in financial literacy education; developing educational programs to reduce student loan default rates; and conducting ongoing research and evaluation of financial literacy education programs. The grant program shall terminate after FY2029.
Source: Congressional Research Service (CRS).
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