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Financial and Economic Literacy Improvement Act of 2013

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9/19/2013--Introduced. Financial and Economic Literacy Improvement Act of 2013 - Amends the Elementary and Secondary Education Act of 1965 to direct the Secretary of Education to award formula matching grants to states or partnerships between states ...[more]

Sponsor

  • Sen. Patty Murray [D, WA]

Cosponsors (1)

  • Sen. Al Franken [D, MN]

Sponsor: Sen  Patty Murray (D-WA)

Summary:

  • Would direct the SecEd to award formula matching grants to states or partnerships between states and experienced nonprofit providers of financial literacy or personal finance education.
  • Grantees would be required to use 25% of the grant funds to: (1) develop financial literacy standards and assessments for at least three grade levels, (2) create teacher training programs to embed financial literacy or personal finance education into core academic subjects, and (3) evaluate the impact such education has on students' financial literacy.
  • Remaining grant funds would be used  for subgrants to local educational agencies (LEAs) or partnerships between LEAs and community organizations, local businesses, or other educational entities to implement such financial literacy activities, including student assessments and teacher training.

Status:

9/19/13 – Introduced, read twice and referred to the Committee on Health, Education, Labor and Pensions.