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House Bill 5277
115th Congress(2017-2018)
Financial Literacy College Education Act
Introduced
Introduced
Introduced in House on Mar 14, 2018
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Introduced in House 
Mar 14, 2018
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Introduced in House(Mar 14, 2018)
Mar 14, 2018
Not Scanned for Linkage
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 5277 (Introduced-in-House)


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 addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration 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 financial literacy for institutions of higher education, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Financial Literacy College Education Act”.

SEC. 2. Best practices for teaching financial literacy.

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 financial 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, parents, and consumer advocacy groups, the Commission shall, by not later than 1 year after the date of enactment of this subsection, establish best practices for institutions of higher education regarding methods to—

“(A) teach financial literacy skills; and

“(B) provide useful and necessary information 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 following:

“(A) Methods to ensure that each student has a clear sense of the student’s total borrowing obligations, including monthly payments, and repayment options.

“(B) The most effective ways to engage students in financial literacy education, 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 PRACTICES.—The Commission shall maintain and periodically update the best practices information required under this subsection at least every 2 years and make the best practices available to the public.

“(4) RULE OF CONSTRUCTION.—Nothing in this subsection shall be construed to require an institution of higher education to adopt the best practices required under this subsection.”.