In committee
Young Americans Financial Literacy Act
This bill establishes a federal grant program providing between $27.5 million and $55 million annually through fiscal year 2029 to fund financial education for young people ages 8 to 24 and their families. Partnerships of colleges, nonprofits, local agencies, and financial institutions will use the funds to teach basic money skills like budgeting, saving, investing, and managing debt. The programs must be delivered through school coursework, user-friendly websites, and social media, with priority given to initiatives serving at-risk youth and reducing student loan defaults.
People affected—The bill targets youth and young adults aged 8 to 24 and their families, but the total number of individuals ultimately served by recipient programs is not determinable from the text.
Fiscal magnitude—no CBO estimate published
Reach28provisional · pending reviewrigor: heuristic llm
What this bill touches.
Spending vs. restraint+20Market protections+25College cost & debt−20
Who it helps · who it burdens.
Who it helps
- Partnerships of colleges, government agencies, nonprofits, and financial institutionsEligible to receive competitive grant funding totaling between $27.5 million and $55 million per year through fiscal year 2029 to establish centers of excellence for youth financial literacy education (Sec. 3(a)(2)).
- Children, young adults, and families (ages 8–24)Gain access to research-based financial education programs, instructional materials on budgeting and managing debt, and initiatives designed to prevent predatory lending and reduce college student loan defaults (Sec. 3(a)(2)).
Who it burdens
- Consumer Financial Protection Bureau (CFPB)Administers a competitive grant program awarding between $27.5 million and $55 million annually through fiscal year 2029, sets application and evaluation standards, and must submit an annual report to Congress detailing recipients and populations served (Sec. 3(a)(2)).
- Grant recipientsRequired to deliver educational content through accessible traditional and digital formats (including social media) and ensure their websites are user-friendly and easy to understand (Sec. 3(a)(2)(e)).