PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S16011-16013)
Congressional Research Service
Version 00 · Introduced in Senate · Nov 25, 2003
Financial Literacy in Higher Education Act - Amends the Higher Education Act of 1965 (HEA) to direct the Secretary of Education, in carrying out HEA activities related to improving financial and economic literacy, education, and counseling, to emphasize, among other elements, basic personal income and household money management and financial planning skills, and basic economic decision making skills, including specified skills.
Directs the Secretary to coordinate such financial and economic literacy activities with related efforts of a Federal commission composed of members from specified Federal agencies.
Revises various HEA provisions relating to minority-serving institutions and to student assistance to include requirements for: (1) educational or counseling services to improve the financial and economic literacy of students and their parents; and (2) personal finance courses and skills.
Showing the opening paragraphs of the official summary.
Directs the Secretary to establish a HEA pilot program to enable institutions of higher education (IHEs) to provide annual personal finance counseling for their students. Requires: (1) award of a total of five grants to five different IHEs located in geographically different parts of the United States; and (2) at least two of such grantees to be minority-serving IHEs.
Directs the Comptroller General to evaluate and report to specified congressional committees on the range and effectiveness of financial and economic education and financial aid counseling activities of IHEs, lenders, servicers, and guaranty agencies as emphasized by the Secretary.
People & committees
Sen. Enzi, Michael B. [R-WY] · R–WY
Legislative record
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Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S16011-16013)
Sponsor introductory remarks on measure. (CR S16011)
Introduced in Senate
Primary sources
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Source last updated: Aug 18, 2025. Consult Congress.gov for the current record.
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