Financial Fitness Act

HR 8944, the Financial Fitness Act, creates a free, interactive online resource for federal student loan borrowers. The portal, to be established by the Department of Education within 3 years, provides practical guidance on budgeting, loan repayment options, retirement savings, and distinguishing federal vs. private loans. It directly affects millions of borrowers struggling with student debt, including high-risk groups highlighted in the bill's findings (e.g., Black, Hispanic/Latino, and first-generation graduates). The portal requires content on managing debt while saving for retirement and will be reviewed every three years, funded by $5 million annually through 2027.