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New Federal Portal for Personal Finance and Student Loan Repayment Education.

This Act mandates the Department of Education to establish a centralized, free online portal dedicated to personal finance education, primarily targeting Federal financial aid recipients. The portal will provide essential information on budgeting, saving, investing, and detailed guidance on managing Federal student loan repayment, including forgiveness options and relevant tax benefits. The goal is to improve financial literacy and reduce high student loan default rates across vulnerable populations.
Key points
Creation of a free, centralized educational portal accessible to all recipients of Federal financial aid.
The portal will cover core financial concepts like budgeting, credit usage, retirement savings, and investment decisions.
Citizens will receive clear guidance on student loan forgiveness programs, tax credits, and distinguishing between Federal and private loan types.
article Official text account_balance Process page
Expired
Citizen Poll
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Additional Information
Print number: 118_HR_8944
Sponsor: Rep. Leger Fernandez, Teresa [D-NM-3]
Process start date: 2024-07-08
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Financial Fitness Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8944.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-07-08.

What are the main provisions?

Key points include:

  • Creation of a free, centralized educational portal accessible to all recipients of Federal financial aid.
  • The portal will cover core financial concepts like budgeting, credit usage, retirement savings, and investment decisions.
  • Citizens will receive clear guidance on student loan forgiveness programs, tax credits, and distinguishing between Federal and private loan types.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Leger Fernandez, Teresa [D-NM-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and the Workforce.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Education Economy