S. 1968 · 108th Congress
Financial Literacy in Higher Education Act
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
EnziSponsor11 cosponsors · 8 D, 3 R
D
Akaka
JC
D
Corzine
PS
D
Sarbanes
GA
R
Allen
FL
D
Lautenberg
CL
D
Levin
ML
D
Landrieu
PF
R
Fitzgerald
DS
D
Stabenow
MC
D
Cantwell
RSR
Santorum3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Financial Literacy in Higher Education Act - Amends the Higher Education Act of 1965 (HEA) to direct the Secretary of Education, in carrying out HEA activities related to improving financial and economic literacy, education, and counseling, to emphasize, among other elements, basic personal income and household money management and financial planning…
What it does: CRS summary · Introduced in Senate · Nov 25, 2003
Financial Literacy in Higher Education Act - Amends the Higher Education Act of 1965 (HEA) to direct the Secretary of Education, in carrying out HEA activities related to improving financial and economic literacy, education, and counseling, to emphasize, among other elements, basic personal income and household money management and financial planning skills, and basic economic decision making skills, including specified skills.
Directs the Secretary to coordinate such financial and economic literacy activities with related efforts of a Federal commission composed of members from specified Federal agencies.
Revises various HEA provisions relating to minority-serving institutions and to student assistance to include requirements for: (1) educational or counseling services to improve the financial and economic literacy of students and their parents; and (2) personal finance courses and skills.
Directs the Secretary to establish a HEA pilot program to enable institutions of higher education (IHEs) to provide annual personal finance counseling for their students. Requires: (1) award of a total of five grants to five different IHEs located in geographically different parts of the United States; and (2) at least two of such grantees to be minority-serving IHEs.
Directs the Comptroller General to evaluate and report to specified congressional committees on the range and effectiveness of financial and economic education and financial aid counseling activities of IHEs, lenders, servicers, and guaranty agencies as emphasized by the Secretary.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Financial Literacy in Higher Education Act
Latest action (Nov 25, 2003): Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S16011-16013)
Policy area: Education · Origin: Senate · Introduced: Nov 25, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.