Financial Literacy Improvement Act of 2008
Latest action · Feb 27, 2008 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 27, 2008
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Financial Literacy Improvement Act of 2008 - 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 and experienced nonprofit providers of financial literacy or personal finance education programs.
Requires grantees 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.
Requires the remaining grant funds to 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.
Amends the Higher Education Act of 1965 to direct the Secretary to award competitive grants to institutions of higher education (IHEs) or partnerships between IHEs and experienced nonprofit providers of financial literacy or personal finance education programs for activities that increase student knowledge in consumer, economic, and personal financial concepts.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Health, Education, Labor, and Pensions Committee | Referred Feb 27, 2008 |
Actions 2
Everything that happened, newest first.
- Feb 27, 2008Introduced in Senate
- Feb 27, 2008Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 2
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 110-105 | FINANCIAL LITERACY AND EDUCATION: THE EFFECTIVENESS OF GOVERNMENTAL AND PRIVATE SECTOR INITIATIVES454 pages | Financial Services Committee | Apr 15, 2008 |
| Serial No. 110-121 | GANG CRIME PREVENTION AND THE NEED TO FOSTER INNOVATIVE SOLUTIONS AT THE FEDERAL LEVEL171 pages | Judiciary Committee | Oct 2, 2007 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 7289 | Financial Literacy Improvement Act of 2008 | Identical bill | Nov 19, 2008 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to provide grants to promote financial literacy.
- Short Titles as Introduced
- Financial Literacy Improvement Act of 2008
Subjects
Assigned by the Library of Congress. Policy area: Education.
- Commerce
- Consumer education
- Economics and Public Finance
- Education
- Educational accountability
- Educational counseling
- Educational tests
- Elementary and secondary education
- Federal aid to education
- Finance and Financial Sector
- Financial services
- Government Operations and Politics
- Government publicity
- Higher education
- Nonprofit organizations
- Personal budgets
- Standards
- Student activities
- Teacher education
Text 1
Each version as it was printed, newest first.
- Feb 27, 2008Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
