Use of grant funds to improve financial literacy

(a)

Educator development regarding financial literacy

Section 2242(a) of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 6672(a)) is amended— (1)in paragraph (4), by striking or at the end; (2)in paragraph (5), by striking the period at the end and inserting ; or; and (3)by adding at the end the following new paragraph:

(6)providing teachers with professional development activities that enhance or enable the provision of financial literacy coursework covering topics that include personal finances, responsible borrowing, managing interest on debt, credit scores, and setting up a bank account, across a local educational agency.

(b)

Specifying scope of financial literacy

Section 4107(a)(3)(A) of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7117(a)(3)(A)) is amended— (1)in clause (ii), by striking and at the end; (2)in clause (iii), by striking and Federal financial aid awareness activities; and inserting the following: courses providing instruction on debt management, managing interest on debt, credit scores, setting a personal budget, opening a checking and savings account at a bank, and alternative banking methods; and; and (3)by adding at the end the following new clause:

(iv)Federal financial aid awareness activities;