Wednesday | April 1, 2015

Scott: Financial Literacy is an Important Part of Our Daily Life

Charleston - In recognition of National Financial Literacy Month, which is celebrated each April, Senator Tim Scott (R-SC) released the following statement:

"As we begin National Financial Literacy Month, we recognize howempoweringfinancial literacy is for individuals, families and communities at all stages of our lives.Ibelieve greatly in helping people realize the power of wealth creation andIknow that financial literacy lays the groundwork for it.

Financial literacy, like education, is an important key to accessing all the powerful opportunities our country offers.I have seen firsthand the ripple effects on families and communities when financial literacy is made a priority.Iencourage individuals and families to use April totakeadvantage of the programs available to assess their personal financial health and create financial goals that work for them. Too many families are faced with crippling debt, and ensuring they have the tools to move forward is of critical importance to both our communities and our nation as a whole."

Last month, Senators Tim Scott (R-SC) and Joe Donnelly (D-IN) introduced the Empowering Student Borrowers Act (S. 781) to improve the financial literacy of college students and ensure that student borrowers have access to the best tools and information to make responsible borrowing decisions.

In South Carolina, Clemson University, USC, Charleston Southern University, Winthrop University, Converse College, and Lander University have offered statements of support for Scott-Donnelly legislation.

Related Issues:  Education