To amend the Financial Literacy and Education Improvement Act to include secondary schools in best practices for teaching financial literacy, and for other purposes.

Education

house

senate

president

Introduced on April 23, 2024 by David G. Valadao

Legislation Details

Amends the Financial Literacy and Education Improvement Act to include secondary schools in the development of best practices for teaching financial literacy.
Updates the effective date for these practices to January 1, 2024.
Specifies that best practices for institutions of higher education should include methods to ensure students understand their total borrowing obligations, effective engagement strategies, targeting different student populations, and communicating the importance of graduation on loan repayment.
Introduces best practices for secondary schools, focusing on creating budgets, saving and investing, understanding credit fundamentals, evaluating financial products to make informed decisions, and understanding financing options for postsecondary education.
Allows for the inclusion of secondary schools alongside institutions of higher education in the application of these best practices.

Last updated 9/28/2024