Young Americans Financial Literacy Act
Sponsored By: Representative Carson
Introduced
Summary
Creates federally funded centers of excellence to expand financial literacy for young people. The bill funds competitive CFPB grants to build, test, and scale research-based financial education for people aged 8–24 and young families.
Show full summary
- Young people and families ages 8–24 gain access to age-appropriate curricula on goal setting, budgeting, saving, credit, debt management, and predatory lending, with attention to at-risk and minority groups.
- College students and recent graduates get sustained programs designed to help manage educational debt and reduce student loan default risk.
- Colleges, nonprofits, state or local agencies, financial institutions, and small partners can form eligible partnerships to compete for grants, must share evaluation data, and must deliver content in accessible classroom and digital formats; CFPB will publish an annual report listing recipients and populations served.
*Authorizes annual grants of at least $27.5 million and up to $55.0 million through fiscal year 2029, increasing federal spending by that amount while grants are awarded.*
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Grants for youth financial education centers
If enacted, the consumer finance bureau would award competitive grants to create centers for money education for ages 8 to 24 and their families. The centers would build research-based lessons, train teachers, and do outreach on risks like bankruptcy, foreclosure, credit card misuse, and predatory lending. They could also run programs to help college students manage loans and avoid default. Funding would range from $27.5 million to $55 million each year. No grants could be made after the end of fiscal year 2029. Grantees would need to deliver content in accessible ways, including social media and user‑friendly websites, and focus on at‑risk groups.
Sponsors & CoSponsors
Sponsor
Carson
IN • D
Cosponsors
Rep. Amo, Gabe [D-RI-1]
RI • D
Sponsored 1/16/2025
Barragan
CA • D
Sponsored 1/16/2025
Rep. Brown, Shontel M. [D-OH-11]
OH • D
Sponsored 1/16/2025
Rep. Carter, Troy A. [D-LA-2]
LA • D
Sponsored 1/16/2025
Rep. Case, Ed [D-HI-1]
HI • D
Sponsored 1/16/2025
Casten
IL • D
Sponsored 1/16/2025
Cohen
TN • D
Sponsored 1/16/2025
Rep. Dean, Madeleine [D-PA-4]
PA • D
Sponsored 1/16/2025
Espaillat
NY • D
Sponsored 1/16/2025
Rep. Evans, Dwight [D-PA-3]
PA • D
Sponsored 1/16/2025
Rep. Hayes, Jahana [D-CT-5]
CT • D
Sponsored 1/16/2025
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 1/16/2025
Johnson (GA)
GA • D
Sponsored 1/16/2025
Rep. Magaziner, Seth [D-RI-2]
RI • D
Sponsored 1/16/2025
McGovern
MA • D
Sponsored 1/16/2025
Rep. McIver, LaMonica [D-NJ-10]
NJ • D
Sponsored 1/16/2025
Rep. Ramirez, Delia C. [D-IL-3]
IL • D
Sponsored 1/16/2025
Rep. Sánchez, Linda T. [D-CA-38]
CA • D
Sponsored 1/16/2025
Rep. Scholten, Hillary J. [D-MI-3]
MI • D
Sponsored 1/16/2025
Soto
FL • D
Sponsored 1/16/2025
Rep. Thanedar, Shri [D-MI-13]
MI • D
Sponsored 1/16/2025
Rep. Titus, Dina [D-NV-1]
NV • D
Sponsored 1/16/2025
Rep. Torres, Ritchie [D-NY-15]
NY • D
Sponsored 1/16/2025
Rep. Omar, Ilhan [D-MN-5]
MN • D
Sponsored 1/21/2025
Rep. Watson Coleman, Bonnie [D-NJ-12]
NJ • D
Sponsored 1/22/2025
Rep. Beatty, Joyce [D-OH-3]
OH • D
Sponsored 1/22/2025
Keating
MA • D
Sponsored 1/23/2025
Davis (NC)
NC • D
Sponsored 2/4/2025
Rep. Olszewski, Johnny [D-MD-2]
MD • D
Sponsored 2/4/2025
Mfume
MD • D
Sponsored 2/10/2025
Thompson (MS)
MS • D
Sponsored 2/13/2025
Smith (WA)
WA • D
Sponsored 2/25/2025
Rep. Veasey, Marc A. [D-TX-33]
TX • D
Sponsored 3/10/2025
Mullin
CA • D
Sponsored 3/11/2025
Rep. Horsford, Steven [D-NV-4]
NV • D
Sponsored 3/24/2025
Rep. Carbajal, Salud O. [D-CA-24]
CA • D
Sponsored 3/24/2025
Rep. Tokuda, Jill N. [D-HI-2]
HI • D
Sponsored 3/24/2025
Rep. García, Jesús G. "Chuy" [D-IL-4]
IL • D
Sponsored 3/25/2025
Rep. Tlaib, Rashida [D-MI-12]
MI • D
Sponsored 3/25/2025
Wilson (FL)
FL • D
Sponsored 4/28/2025
Escobar
TX • D
Sponsored 5/19/2025
Rep. Figures, Shomari [D-AL-2]
AL • D
Sponsored 7/29/2025
Rep. Clarke, Yvette D. [D-NY-9]
NY • D
Sponsored 8/19/2025
Cherfilus-McCormick
FL • D
Sponsored 8/29/2025
McBride
DE • D
Sponsored 8/29/2025
Rep. Lieu, Ted [D-CA-36]
CA • D
Sponsored 10/3/2025
Rep. Johnson, Julie [D-TX-32]
TX • D
Sponsored 10/3/2025
Craig
MN • D
Sponsored 11/12/2025
Bonamici
OR • D
Sponsored 4/13/2026
Roll Call Votes
No roll call votes available for this bill.
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