Newsroom Floor Statements
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REMARKS BY
THE HONORABLE ANDRÉ CARSON FLOOR REMARKS ON H.R. 3147, THE YOUNG ADULTS FINANCIAL LITERACY ACT THURSDAY, JULY 16, 2009
Madam Speaker, I come to the floor to discuss the Young Adults Financial Literacy Act, which I introduced last week to help community organizations provide better financial education to young adults.
As our recession drags on, it is clear that many of the problems we now face could have been avoided by better educating people about the financial system.
Today, across our country, thousands of young people are getting their first credit card, taking out loans for college and renting their first apartments.
Yet statistics show that many of these young adults never learned basic financial skills like budgeting, saving and maintaining manageable debt.
My bill will help young people receive the financial education they need—before they take these critical first steps.
It will provide grants for the development and implementation of effective education programs—empowering a young generation of consumers at this critical economic time.
So, I encourage my House colleagues cosponsor the Young Adults Financial Literacy Act.
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I encourage all interested students to apply for a nomination to the U.S. Military Academy (West Point), U.S. Air Force Academy, U.S. Naval Academy, U.S. Merchant Marine Academy and U.S. Coast Guard Academy. Students accepted receive full paid tuition and a modest living stipend. Eligible applicants must be at least 17 years old but not have passed their 23rd birthday, a U.S. citizen, unmarried and have no legal obligation to support children or other dependents.
Receiving a congressional nomination is required for admission (except for the U.S. Coast Guard Academy), but it does not guarantee admission to an academy. Academy admissions offices evaluates each candidate's high school record, class rank, standardized test scores, extracurricular activities, fitness exam and moral character before making their selections.
Interested applicants must submit all required materials to Congressman Carson's office before the November 1st deadline. For more information about the nomination application process, click here.
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