I 

113TH CONGRESS 

1ST SESSION H. R. 2920 

To improve the financial literacy of students. 

IN THE HOUSE OF REPRESENTATIVES 

AUGUST 1, 2013 

Mr. CARTWRIGHT (for himself, Mr. THOMPSON of Mississippi, Mr. LEWIS, Mr. 

MEEKS, Ms. SEWELL of Alabama, Mr. TAKANO, Ms. JACKSON LEE, Mr. 

CLAY, Mr. HONDA, Mr. RUSH, Ms. CLARKE, Mr. RYAN of Ohio, Mr. 

PERLMUTTER, Ms. SCHAKOWSKY, Mr. ELLISON, Mr. LANGEVIN, Ms. 

KAPTUR, Ms. EDDIE BERNICE JOHNSON of Texas, Mr. HINOJOSA, Mr. 

PASCRELL, Mr. HIMES, Mr. RANGEL, and Mr. COHEN) introduced the 

following bill; which was referred to the Committee on Education and the 

Workforce 

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’’. 


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1 SEC. 2. STATEWIDE INCENTIVE GRANTS FOR FINANCIAL 

2 LITERACY EDUCATION. 

3 Part D of title V of the Elementary and Secondary 

4 Education Act of 1965 (20 U.S.C. 7241 et seq.) is amend5 ed by adding at the end the following: 

6 ‘‘Subpart 22—Financial Literacy 

7 ‘‘SEC. 5621. STATEWIDE INCENTIVE GRANTS FOR FINAN8 CIAL LITERACY EDUCATION. 

9 ‘‘(a) GRANTS AUTHORIZED.—From amounts appro10 priated under subsection (e), the Secretary may award 

11 grants to State educational agencies to enable State edu12 cational agencies, on a statewide basis— 

13 ‘‘(1) to integrate financial literacy education 

14 into each public elementary school and public sec15 ondary school within the State that is eligible to re16 ceive funds under title I; and 

17 ‘‘(2) to provide professional development re18 garding the teaching of financial literacy in core aca19 demic subjects to each secondary school teacher of 

20 financial literacy or entrepreneurship within the 

21 State. 

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

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

24 State educational agency may use grant funds to— 

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

26 activities, including after school activities; 


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1 ‘‘(2) enhance student understanding and experi2 ential learning with consumer, economic, entrepre3 neurship, and personal finance concepts; and 

4 ‘‘(3) promote partnerships with community5 based organizations, financial institutions, local busi6 nesses, entrepreneurs, or other organizations pro7 viding financial literacy activities. 

8 ‘‘(c) LIMITATION ON USES OF FUNDS.—A State edu9 cational agency receiving grant funds under this section 

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

11 to carry out the following: 

12 ‘‘(1) Teacher professional development pro13 grams to embed financial literacy or personal finance 

14 or entrepreneurship education into core academic 

15 subjects. 

16 ‘‘(2) Curriculum development. 

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

18 literacy or personal finance education on students’ 

19 understanding of financial literacy concepts. 

20 ‘‘(d) MATCHING FUNDS.—A State educational agen21 cy that receives a grant under this section shall provide 

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

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

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

25 grant. 


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

2 appropriated to carry out this section such sums as may 

3 be necessary for fiscal year 2014 and each of the 4 suc4 ceeding fiscal years.’’. 

Æ 


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