Press Releases
Rep. Cartwright Introduces Legislation Promoting Financial Literacy
Washington, DC,
August 2, 2013
Today, Rep. Matt Cartwright introduced the Financial Literacy for Students Act, HR 2920, with the support of 23 Representatives. The Act would create incentive grants to states who agree to provide financial literacy education in Title I public elementary and secondary schools. Additionally, the legislation would allow for significant flexibility, creativity and innovation in the integration of financial literacy and entrepreneurship education into existing curriculums, as well as encourage appropriate professional development for teachers for the teaching of financial literacy education. “The importance of consumer sophistication on financial matters has never been more important than it is in today’s economy,” said Cartwright. “The key to improving the financial literacy of all Americans is ensuring that our students have access, at all appropriate stages of their education, to formal financial literacy education.” Under current law, individual states are left to create and implement financial literacy education curriculum and courses in their districts and schools. As a result, only four states require a minimum of one semester of financial literacy education in primary and secondary school, and only 20 states require that the topic be taught within another subject area. “The Council for Economic Education (CEE) supports the Financial Literacy for Students Act as a vehicle for bringing much needed economic and financial literacy education into our nation’s classrooms,” said Nan J. Morrison, CEE President & CEO. “It is critical that children learn the grammar of economics and finance, the specialized language that describes how our economy operates; without that proficiency, they are likely to remain on the periphery of their own potential. This need for economic and financial literacy extends to every child, across class and cultural lines, but not all parents are equipped to teach these skills. Title One schools are key to giving our kids the opportunity they deserve.” “As we work to prepare our students for the 21st century workplace, a consistent approach to financial education in our schools will help our students entering not only college, but also the workforce, be well-prepared and ready to make sound financial decisions,” said Cartwright. Supporting Organizations: The National Foundation for Credit Counseling, The Council for Economic Education, Junior Achievement, and the American Financial Services Association
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