Reps. Beatty, Stivers Introduce Financial Literacy College Education Act
WASHINGTON, D.C. –U.S. Congresswoman Joyce Beatty (OH-03) and Congressman Steve Stivers (OH-15) recently introduced the Financial Literacy College Education Act, a bill that if enacted would provide colleges, universities and other high institutions of learning with the tools and information to better empower their students to make informed financial decisions.
As co-chairs of the Financial and Economic Literacy Caucus, Beatty and Stivers have worked together to advance financial literacy and to ensure Americans of all ages and backgrounds can become more financially independent and self-sufficient.
“I have been a long-time champion of financial literacy and am committed to making sure that all Americans have access to financial education and related tools and skills to build an even brighter financial future,” Beatty said. “At a time when U.S college-aged students’ financial literacy rates lag behind those of their peers from a whole host of other countries, I am proud to join forces with Congressman Stivers to introduce the Financial Literacy College Education Act to help instill the financial knowledge and know-how so that more college students can effectively manage their future financial obligations.”
“We are all responsible for our own fiscal futures, and so it is essential to ensure that our students have the necessary tools to plan and make sound financial decisions,” Stivers said. “I am proud to work with Congresswoman Beatty to empower young people across the country and further promote financial literacy.”
The Financial Literacy College Education Act would require the Financial Literacy and Education Commission to establish best practices for institutions of higher education regarding (1) teaching financial literacy skills; and (2) providing useful and necessary information to assist students when making financial decisions related to student borrowing. The bill has been referred to the House Financial Services Committee and is awaiting further consideration.