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April 28, 2026
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Download official Senate Record PDFReturn to issue contextSENATE RESOLUTION 694—DESIGNATING APRIL 2026 AS “FINANCIAL LITERACY
MONTH”
Mr. REED (for himself, Mr. Scott of South Carolina, Mr. Banks, Ms. Blunt Rochester, Mr. Boozman, Mrs. Britt, Mr. Budd, Ms. Cantwell, Mrs. Capito, Ms. Collins, Mr. Cramer, Mr. Crapo, Mr. Durbin, Mrs. Gillibrand, Mr. Hagerty, Ms. Hassan, Mrs. Hyde-Smith, Mr. Kelly, Mr. King, Ms. Lummis, Mr. Peters, Mr. Ricketts, Mr. Risch, Mr. Rounds, Mr. Tuberville, Mr. Whitehouse, Mr. Wicker, Mr. Moreno, and Mr. Daines) submitted the following resolution; which was considered and agreed to:
S. Res. 694
Whereas survey research conducted in 2025 by the National
Endowment for Financial Education found that—
(1) 88 percent of United States adults reported feeling
some form of financial stress as they entered 2026; and
(2) 77 percent of United States adults reported that they
experienced a financial setback in 2025;
Whereas, according to the 2023 Federal Deposit Insurance
Corporation National Survey of Unbanked and Underbanked
Households—
(1) approximately 4.2 percent of households, representing
5,600,000 households in the United States, remain unbanked
and therefore have limited or no access to savings, lending,
or other basic financial services; and
(2) an estimated 14.2 percent of households, representing
about 19,000,000 households in the United States, remain
underbanked, including nearly 1 in 4 households without a
high school diploma;
Whereas, according to a report entitled “Financial
Capability of Adults with Disabilities” by the National
Disability Institute and the Financial Industry Regulatory
Authority, people with disabilities are more likely to
struggle with the key components of financial capability,
which are making ends meet, planning ahead, managing
financial products, and financial knowledge and
decisionmaking, and could benefit from targeted financial
education;
Whereas, according to the statistical release of the
Federal Reserve Bank of New York for the fourth quarter of
2024 entitled “Household Debt and Credit Report”—
(1) outstanding household debt in the United States has
increased by $3,890,000,000,000 since the end of 2019;
(2) outstanding student loan balances have increased
steadily during the last decade to more than
$1,600,000,000,000; and
(3) delinquency rates increased for all debt types except
for debt related to student loans;
Whereas the 2023 Employer Survey of the Employee Benefits
Research Institute reported that financial wellness benefits,
including broad-based financial education, are a tool to
improve worker satisfaction and productivity;
Whereas, according to the National Endowment for Financial
Education, as of 2026, a total of 30 States have passed
legislation requiring students to complete a financial
education course prior to completing high school,
representing more than 60 percent of all students across the
United States;
Whereas survey research conducted in 2025 by the National
Endowment for Financial Education reports that—
(1) 83 percent of adults in the United States say that
their State should require a semester or year-long course
focused on personal finance education for high school
graduation, and 82 percent of adults in the United States
whose high schools did not offer such a course say they wish
they had been required to take one in order to graduate;
(2) 1 in 4 respondents in multigenerational households who
took financial education in secondary school and found it
useful report a quality of financial life that is better than
they expected, compared to 11 percent of those who did not
take financial education in secondary school and a survey-
wide average of 16 percent; and
(3) at least 75 percent of United States adults consider
personal finance to be an essential subject that should be
taught in high school;
Whereas a growing amount of empirical evidence affirms that
exposure to financial education in high school has measurable
and substantive effects on the financial knowledge and
financial behavior of young adults, including studies that
show—
(1) requirements for financial education in high school—
(A) are associated with fewer defaults and higher credit
scores among young adults aged 18 to 21; and
(B) increase the likelihood that college-bound students
will apply for financial aid;
(2) individuals exposed to financial education in high
school demonstrate greater financial literacy and, as a
result, are more likely to plan for retirement and less
likely to report being financially fragile; and
(3) standalone personal finance courses offered in high
school improve long-run credit scores and financial
wellbeing;
Whereas expanding access to the safe, mainstream financial
system will provide individuals with less expensive and more
secure options for managing finances and building wealth;
Whereas quality personal financial education is essential
to ensure that individuals are prepared to—
(1) make sound money management decisions about credit,
debt, insurance, financial transactions, and planning for the
future; and
(2) become responsible workers, heads of household,
investors, entrepreneurs, business leaders, and citizens;
Whereas financial education in schools in the United States
is critical to a long-term financial inclusion strategy to
reach students who are not able to get sufficient personal
finance guidance at home;
Whereas increased financial literacy—
(1) empowers individuals to make wise financial decisions;
and
(2) reduces the confusion caused by an increasingly complex
economy;
Whereas a greater understanding of, and familiarity with,
financial markets and institutions will lead to increased
economic activity and growth; and
Whereas, in 2003, Congress—
(1) determined that coordinating Federal financial literacy
efforts and formulating a national strategy is important; and
(2) in light of that determination, passed the Financial
Literacy and Education Improvement Act (20 U.S.C. 9701 et
seq.), establishing the Financial Literacy and Education
Commission: Now, therefore, be it
Resolved, That the Senate—
(1) designates April 2026 as “Financial Literacy Month”
to raise public awareness about—
(A) the importance of personal financial education in the
United States; and
(B) the serious consequences that may result from a lack of
understanding about personal finances; and
(2) calls on the Federal Government, States, localities,
schools, nonprofit organizations, businesses, and the people
of the United States to observe Financial Literacy Month with
appropriate programs and activities.