Financial Literacy in the US Today

Latest news on financial literacy highlights a growing focus on the issue from various sectors, including government, educational institutions, and non-profit organisations. Here is a summary of the latest developments: Government and Policy Initiatives Student Loan Warnings: The Trump administration has announced a new initiative to provide prospective student borrowers and their families with clear warnings about the risks of federal student loans. The U.S. Department of Education's Office of the Ombudsman will lead the effort, which is intended to help students make more informed decisions about borrowing. This comes as federal student loan debt in the US approaches $1.7 trillion. However, some advocates are concerned that this initiative may divert attention from more urgent issues, such as the large backlog of borrower applications for income-driven repayment plans. U.S. Financial Literacy and Education Commission:** The Financial Literacy and Education Commission (FLEC), an ...