U.S. Rep. Bill Foster, D-Naperville, introduced a resolution to encourage collaboration between the public and private sectors to promote financial literacy for students.
Foster introduced the bipartisan resolution with Republican U.S. Rep. French Hill of Arkansas, according to a news release.
“In our increasingly complex financial marketplace, young people often find themselves lacking the knowledge to make tough financial decisions that can have profound effects on their futures,” Foster said. “Studies have shown that promoting financial literacy at an early age helps equip young people to make sound financial decisions that will set themselves up for success.”
The resolution also emphasizes the importance of financial literacy for consumers of all ages and supports the efforts of federal agencies to expand education resources. It also states that personal financial management skills begin to develop during childhood.