summary
Introduced
03/14/2018
03/14/2018
In Committee
03/14/2018
03/14/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Financial Literacy College Education Act
AI Summary
This bill, the Financial Literacy College Education Act, requires the Financial Literacy and Education Commission to establish and publish best practices for teaching financial literacy at institutions of higher education. The key provisions include: establishing best practices for methods to teach financial literacy skills and provide information to assist students with financial decisions related to borrowing; specifying that the best practices should cover ensuring students understand their total borrowing obligations and repayment options, effective ways to engage students in financial literacy education, targeting different student populations, and communicating the importance of graduating on students' ability to repay loans; and requiring the Commission to maintain and periodically update the best practices at least every 2 years. The bill does not require institutions to adopt the best practices.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Referred to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (on 03/14/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/house-bill/5277/all-info |
| BillText | https://www.congress.gov/115/bills/hr5277/BILLS-115hr5277ih.pdf |
| Bill | https://www.congress.gov/115/bills/hr5277/BILLS-115hr5277ih.pdf.pdf |
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