Sec. 3. Grants to promote postsecondary financial literacy
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Part A of title III of the Higher Education Act of 1965 ( 20 U.S.C. 1057 et seq. ) is amended by adding at the end the following: The Secretary shall award grants, on a competitive basis, to eligible entities to enable such entities to provide financial literacy courses or course components to students. In this section, the term eligible entity means— an institution of higher education; or a partnership consisting of— an institution of higher education; and a nonprofit organization with experience and a proven track record in quality financial literacy or personal finance education programs.
An eligible entity that desires to receive a grant under this section shall submit an application to the Secretary at such time, in such manner, and accompanied by such information as the Secretary may require. The Secretary shall award grants under this section in amounts of not less than $500,000. An eligible entity that receives a grant under this section shall use the grant funds to develop and implement financial literacy education, activities, student organizations, or counseling that increase student knowledge in consumer, economic, and personal financial concepts.
There are authorized to be appropriated to carry out this section $125,000,000 for fiscal year 2014 and each succeeding fiscal year. .
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Sec. 3
Grants to promote postsecondary financial literacy
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