PART 1: OVERVIEW

 Besides the financial education resources provided to Direct Express® cardholders through the Direct Express® Financial Education Center, there are a wider array of resources provided by the federal government, through the Financial Literacy and Education Commission (“FLEC”). Some of these are practical, and aimed squarely at citizens and some help those seeking to better understand challenges associated with financial literacy and the approach the US government is talking to mitigate these.

FLEC was established under the Fair and Accurate Credit Transactions Act of 2003. The Commission was tasked to develop a national financial education web site (MyMoney.gov) and a national strategy on financial education. It is chaired by the Secretary of the Treasury and the vice chair is the Director of the Bureau of Consumer Financial Protection. The Commission is coordinated by the Department of the Treasury’s Office of Consumer Policy.

 A number or resources are available through FLEC about financial literacy and education. Among them are the following:

  • FLEC’s financial literacy education website, gov,compiles many   federal resources about financial decisions during major life events and interactive tools, including online financial planning calculators and budgeting worksheets. MyMoney.gov is available in English and Spanish.
  • Financial Literacy and Education Commission Annual Report to Congress Fiscal Year (FY) 2025. The Strategy for Assuring Financial Empowerment (SAFE) Report highlights the actions taken by the FLEC-represented agencies during fiscal year (FY) 2025. It also details the FLEC’s progress in fulfilling its statutory responsibilities, including implementing the recommendations in the 2020 U.S National Strategy for Financial Literacy (2020 National Strategy).
  • Higher Education Financial Education Resources Updates – 2023Resources to provide useful information to program leaders, educators, financial aid professionals, and students. The FLEC published higher education reports in 2015 and 2019, and this factsheet represents an update to those publications, highlighting newly available resources.
  • U.S. Financial Literacy and Education Commission Report FY 2021 This report serves as the Financial Literacy and Education Commission’s (FLEC) Strategy for Assuring Financial Empowerment (SAFE) report for FY 2021.
  • Best Practices for Financial Literacy and Education at Institutions of Higher Education This report provides recommendations for higher education institutions to deliver financial literacy education and resources to help students make informed decisions and avoid pitfalls associated with financing education.
  • The FLEC’s Resource Guide for Financial Institutions  Incorporating Financial Capability into Youth EmploymentPrograms is aimed at financial institutions interested in enhancing youth financial capability. It maps how and why financial institutions can engage in helping young people achieve greater financial well-being and employmentsuccess.
  • College Savings and Financing Resources This document lists an array of resources for students and their families with tools and information to help make informed decisions about saving, paying, or financing their higher education.

SOURCE: Financial Literacy Education Commission