I 
115TH CONGRESS 
2D SESSION 
H. R. 5277 
To require the Financial Literacy and Education Commission to establish 
and publish best practices for teaching financial literacy for institutions 
of higher education, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 14, 2018 
Mrs. BEATTY (for herself and Mr. STIVERS) introduced the following bill; 
which was referred to the Committee on Financial Services, and in addi-
tion to the Committee on Education and the Workforce, for a period to 
be subsequently determined by the Speaker, in each case for consider-
ation of such provisions as fall within the jurisdiction of the committee 
concerned 
A BILL 
To require the Financial Literacy and Education Commission 
to establish and publish best practices for teaching finan-
cial literacy for institutions of higher education, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Financial Literacy Col-
lege Education Act’’. 
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SEC. 2. BEST PRACTICES FOR TEACHING FINANCIAL LIT-
ERACY. 
Section 514 of the Financial Literacy and Education 
Improvement Act (20 U.S.C. 9703) is amended by adding 
at the end the following: 
‘‘(j) BEST PRACTICES FOR TEACHING FINAN-
CIAL LITERACY.— 
‘‘(1) IN GENERAL.—After soliciting public 
comments and consulting with and receiving 
input from relevant parties, including a diverse 
set of institutions of higher education and other 
interested stakeholders, including students, par-
ents, and consumer advocacy groups, the Com-
mission shall, by not later than 1 year after the 
date of enactment of this subsection, establish 
best practices for institutions of higher edu-
cation regarding methods to— 
‘‘(A) teach financial literacy skills; 
and 
‘‘(B) provide useful and necessary in-
formation to assist students at institutions 
of higher education when making financial 
decisions related to student borrowing. 
‘‘(2) BEST PRACTICES.—The best practices 
described in paragraph (1) shall include the fol-
lowing: 
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‘‘(A) Methods to ensure that each stu-
dent has a clear sense of the student’s 
total 
borrowing 
obligations, 
including 
monthly payments, and repayment options. 
‘‘(B) The most effective ways to en-
gage students in financial literacy edu-
cation, including frequency and timing of 
communication with students. 
‘‘(C) Information on how to target 
different student populations, including 
part-time students, first-time students, and 
other nontraditional students. 
‘‘(D) Ways to clearly communicate the 
importance of graduating on a student’s 
ability to repay student loans. 
‘‘(3) 
MAINTENANCE
OF
BEST
PRAC-
TICES.—The Commission shall maintain and 
periodically update the best practices informa-
tion required under this subsection at least 
every 2 years and make the best practices avail-
able to the public. 
‘‘(4) RULE
OF
CONSTRUCTION.—Nothing 
in this subsection shall be construed to require 
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an institution of higher education to adopt the 
best practices required under this subsection.’’. 
Æ 
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