WASHINGTON – Congressman David Valadao (CA-22) and Congresswoman Brittany Pettersen (CO-07) reintroduced the Promoting Financial Literacy in Secondary Schools Act. This bipartisan bill would help improve financial literacy education and allow classes to be more widely available to high school students.

“Filing taxes, managing a budget, building savings, and understanding credit are all important life skills, yet too many students graduate high school without the financial knowledge they need to make informed decisions,” said Congressman Valadao. “Instead of trying to navigate a complicated financial system on their own, students should have a strong foundation in financial literacy. The bipartisan Promoting Financial Literacy in Secondary School Act would give students these critical tools before they graduate and help prepare the next generation for success—whether they choose to attend college, pursue a trade, or enter the workforce."

“I know how hard it can be to navigate our financial system, especially for people like me who were the first in their family to graduate from high school and college. Too many young people enter adulthood without anyone ever teaching them how to build credit, manage a budget, or protect themselves from financial decisions that could follow them for years, said Congresswoman Pettersen. "Every one of our students should have access to the resources they need to make informed financial decisions, regardless of the path they take after high school. I’m so proud to join Congressman Valadao to introduce this commonsense, bipartisan bill that will help high schools better prepare our young people to achieve financial security, avoid costly mistakes, and set themselves up for success in the long run.”

Background:

The Financial Literacy and Education Commission (FLEC) within the U.S. Department of the Treasury is tasked with creating best practices for teaching financial literacy. Currently, FLEC only creates guidance for institutions of higher education. As more students continue to seek alternatives to college, they are missing out on these foundational financial literacy programs. This legislation would require FLEC to include high schools when creating their best practices for students about budgeting, financial securities, credit, evaluating financial products, and student loan borrowing. Nothing in this bill requires schools to adopt the best practices created under this bill.

Read the bill here.

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