II 

113TH CONGRESS 

1ST SESSION S. 829 

To improve the financial literacy of students. 

IN THE SENATE OF THE UNITED STATES 

APRIL 25, 2013 

Mrs. HAGAN introduced the following bill; which was read twice and referred 

to the Committee on Health, Education, Labor, and Pensions 

A BILL 

To improve the financial literacy of students. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Financial Literacy for 

5 Students Act’’. 

6 SEC. 2. STATEWIDE INCENTIVE GRANTS FOR FINANCIAL 

7 LITERACY EDUCATION. 

8 Part D of title V of the Elementary and Secondary 

9 Education of 1965 is amended by adding at the end the 

10 following: 


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1 ‘‘Subpart 22—Financial Literacy 

2 ‘‘SEC. 5621. STATEWIDE INCENTIVE GRANTS FOR FINAN3 CIAL LITERACY EDUCATION. 

4 ‘‘(a) GRANTS AUTHORIZED.—From amounts appro5 priated under subsection (e), the Secretary may award 

6 grants to State educational agencies to enable State edu7 cational agencies, on a statewide basis— 

8 ‘‘(1) to integrate financial literacy education 

9 into each public elementary school and public sec10 ondary school within the State that is eligible to re11 ceive funds under title I; and 

12 ‘‘(2) to provide professional development re13 garding the teaching of financial literacy in core aca14 demic subjects to each secondary school teacher of 

15 financial literacy or entrepreneurship within the 

16 State. 

17 ‘‘(b) PERMISSIBLE USES OF FUNDS.—In carrying 

18 out the grant activities described in subsection (a), the 

19 State educational agency may use grant funds to— 

20 ‘‘(1) implement school-based financial literacy 

21 activities, including after school activities; 

22 ‘‘(2) enhance student understanding and experi23 ential learning with consumer, economic, entrepre24 neurship, and personal finance concepts; and 

25 ‘‘(3) promote partnerships with community26 based organizations, financial institutions, local busiVerDate Mar 15 2010 02:03 May 01, 2013 Jkt 029200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S829.IS S829

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1 nesses, entrepreneurs, or other organizations pro2 viding financial literacy activities. 

3 ‘‘(c) LIMITATION ON USES OF FUNDS.—A State edu4 cational agency receiving grant funds under this section 

5 shall not use more than 20 percent of such grant funds 

6 to carry out the following: 

7 ‘‘(1) Teacher professional development pro8 grams to embed financial literacy or personal finance 

9 or entrepreneurship education into core academic 

10 subjects. 

11 ‘‘(2) Curriculum development. 

12 ‘‘(3) An evaluation of the impact of financial 

13 literacy or personal finance education on students’ 

14 understanding of financial literacy concepts. 

15 ‘‘(d) MATCHING FUNDS.—A State educational agen16 cy that receives a grant under this section shall provide 

17 matching funds, from non-Federal sources, in an amount 

18 equal to 25 percent of the amount of grant funds provided 

19 to the State to carry out the activities supported by the 

20 grant. 

21 ‘‘(e) APPROPRIATIONS.—There are authorized to be 

22 appropriated to carry out this Act such sums as may be 

23 necessary for fiscal year 2013 and each of the 4 suc24 ceeding fiscal years.’’. 

Æ 


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