Community Financial Education Foundation commends Congress for supporting the Financial Education Movement

WASHINGTON, D.C. –  Senator Daniel K. Akaka of Hawaii held a hearing today to assess the progress of the Financial Literacy and Education Commission to examine the effectiveness of federal financial education programs.  The United States Senate designated April as Financial Literacy Month in 2003 to create higher economic literacy and financial education among children.       

“With the state of the economy today, the best investment our government can make is in the financial education of all Americans,” said Miranda Harwell, Executive Director of the Community Financial Education Foundation (CFEF).  “We commend Senator Akaka for being a leader in the Senate and recognizing the importance of financial education.  CFEF believes that providing financial education and budgeting tools will empower Americans to make informed financial decisions and live better lives.”

CFEF launched its first educational initiative, Borrow Smart America, in November. This free, web-based financial education program was designed to teach consumers how to create household budgets, project future expenses, set savings goals and improve personal credit.

Intuit Inc. has donated a copy of Quicken Deluxe for the first 500 consumers who complete the Borrow Smart America curriculum on the CFEF website.  This initiative provides consumers with additional budgeting tools and enables them to make their personal finances a priority long after they have completed the Borrow Smart America program.

Launched in 2008, the Washington, D.C.-based Community Financial Education Foundation is the leading provider of educational resources and budgeting tools for payday loan borrowers.  The non-profit organization, supported by companies in the online lending industry, developed the web-based financial education program, Borrow Smart America. The foundation also advocates for financial education programs in America’s public schools and awards grants nationwide to community organizations and students who promote financial literacy in their communities.  For more information, visit www.CommunityFEF.org.