Press Releases

Congresswoman Teresa Leger Fernández reintroduced the Financial Fitness Act to create a public personal finance education portal on the Department of Education website to help students and families grow their financial literacy skills and better prepare for their future.

“Students and families face substantial and difficult financial decisions when they choose to pursue higher education.  Students of color and low-income students tend to carry the heaviest burden when it comes to paying for college. We must give students and families the tools to make the best financial decisions possible,” said Leger Fernández. 

“New Mexico is ranked as one of the lowest in the country for financial knowledge, but we can fix that. My legislation would create an accessible and comprehensive personal finance portal that allows students and the public to develop and improve their financial fitness to better prepare for their future. I was inspired by the success of the financial fitness programs we used when I was with Homewise. As we rebuild our economy, I want every student to build their own financial strength and awareness so they can succeed financially,” she finished. 

The Financial Fitness Act:

• Creates and establishes a personal finance education portal through the Department of Education that is publicly available.
• Provides information on core personal finance concepts such as borrowing, budgeting, saving, and investing.
• Helps students learn about managing student loans including loan types, benefits, policies, and forgiveness.

Read the full bill text HERE.

Read a one-pager of the bill HERE.

“Homewise is a big fan of this effort to expand access to high-quality financial fitness education.  If America is going to be successful in helping more families get ahead and build our middle class, it’s essential that we help people advance their personal financial management skills through programs like these,” said Mike Loftin, Homewise Chief Executive Officer.

"This bill would create a new, valuable financial literacy resource for students as they transition into the workforce. It will equip them with crucial knowledge to make informed decisions about saving for their retirement during their working years," said Paul Richman, Chief Government and Political Affairs Officer of the Insured Retirement Institute.

Read the IRI’s letter of support here. Think New Mexico has also endorsed this bill.