Young Americans Financial Literacy Act

The Young Americans Financial Literacy Act would create federal grants to fund centers of excellence that develop and deliver research-based financial education programs for young people aged 8-24. These programs would teach essential money management skills like budgeting, saving, debt management, and financial decision-making, with a focus on accessibility through digital and traditional methods. The bill authorizes $27.5 million to $55 million annually (through 2025) for these centers, prioritizing programs serving at-risk youth, families, and communities facing financial challenges. Centers must use evidence-based approaches, address unique needs (e.g., student loans, predatory lending), and report annually to Congress on their outcomes.