College Literacy in Finance and Economics (College LIFE) Act

The College Literacy in Finance and Economics (College LIFE) Act aims to improve the financial and economic knowledge of college students and their families by integrating financial literacy into the higher education system. The bill would require the Department of Education to emphasize practical skills such as household money management, personal income planning, and basic economic decision-making.

If passed, the legislation would establish pilot programs for annual personal finance counseling at colleges and provide grants to develop innovative ways to teach financial literacy. It specifically prioritizes support for institutions that discourage aggressive credit card marketing on campus and provides resources for training teachers and counselors in financial education. The ultimate goal is to help students better navigate student loans, credit, and long-term financial planning.