Bill > S829

This bill, known as the Financial Literacy for Students Act, aims to improve students' understanding of financial concepts by authorizing the Secretary to award grants to State educational agencies. These grants will fund statewide initiatives to integrate financial literacy education into public elementary and secondary schools that receive funds under title I, which is a federal program designed to help disadvantaged students. The grants can also be used to provide professional development for teachers on how to teach financial literacy and entrepreneurship within core academic subjects. Permitted uses of the grant funds include implementing school-based financial literacy activities, enhancing students' understanding of consumer, economic, entrepreneurship, and personal finance concepts through experiential learning, and fostering partnerships with community organizations and financial institutions. However, no more than 20 percent of the grant funds can be used for teacher professional development, curriculum development, or evaluating the impact of financial literacy education. Additionally, states receiving these grants must provide matching funds from non-Federal sources equal to 25 percent of the grant amount. The bill authorizes necessary appropriations for fiscal year 2013 and the following four years to carry out these provisions.