Young Americans Financial Literacy Act

HR 486, the Young Americans Financial Literacy Act, authorizes $27.5 million to $55 million annually through 2029 to fund competitive grants for centers of excellence focused on financial literacy education for individuals aged 8-24. These centers, established by eligible institutions like schools, nonprofits, or financial organizations, must develop research-based programs covering budgeting, debt management, student loan guidance, and avoiding pitfalls like predatory lending. The bill specifically requires programs to address at-risk populations, include evidence-based teaching methods, and serve groups such as high school graduates, college students, young families, and military personnel. It mandates annual reporting to Congress on grant recipients and the populations they serve, with funding ending in 2029.