Ensuring all Americans can live their best financial lives cannot be done with a piecemeal approach — the community must be mobilized, and NEFE recognizes the important role we play in making that happen.
That is why we co-host Financial Literacy Day on Capitol Hill every year, in collaboration with the Jump$tart Coalition for Personal Financial Literacy. This event serves as the centerpiece of the financial education field’s efforts to drive the national conversation forward by bringing together 50+ leading organizations to advocate for the federal government to advance progress and help scale financial education.
However, in alignment with NEFE's new strategic plan, this year we evolved Hill Day to ensure the time we had at the Capitol would take meaningful steps to measurably improve financial well-being. This year's event was both a celebration of the incredible momentum behind the movement and a call to action for how federal policymakers can be involved.
"The Hill Day event is a wonderful depiction of our coalition, demonstrating our collective strength, as well as the unique individual contributions of our diverse stakeholders. NEFE was a founding partner of the Jump$tart Coalition and we’re proud to be co-hosting Financial Literacy Day on Capitol Hill alongside them.
- Laura Levine, President of the Jump$tart Coalition for Personal Financial Literacy
Why The Federal Government:
The federal government plays a pivotal role in ensuring everyone can live their best financial life. As more states (29 and counting) pass full high school graduation requirements, the financial ecosystem continues changing. The federal government can help ensure that K-12 and postsecondary financial education systems are prepared to effectively educate the 11.3 million students living in those states by 2031.
As NEFE and our partners shared while on the Hill, the federal government can conduct research to understand effective financial education practices, coordinate federal efforts to improve financial well-being and target investments to build and support financial education infrastructure. Our federal advocacy efforts help ensure the great work states are doing can be further supported.
"As the independent, centralizing voice providing leadership, research and collaboration to advance financial well-being, NEFE knows how important it is to equip our nation’s policymakers with the data and knowledge necessary to promote effective financial education for all Americans.
- Billy Hensley, Ph.D., president and CEO of the National Endowment for Financial Education
NEFE staff met with offices across the legislative and executive branches, engaging with key federal leaders who are committed to financial education. These meetings engaged policymakers ranging from states that have yet to implement any type of financial education graduation requirement to states that are implementing a full requirement today along with federal agencies actively involved in financial education efforts.
Meetings sparked conversations about the importance of standalone financial education courses and the federal government's role in supporting financial education. Additionally, when meeting with congressional staff and federal employees, NEFE staff identified emerging trends in financial education, such as predictive markets and artificial intelligence, to ensure the field remains forward-looking.
Elevating Effective Practice
This year featured two events that elevated research and best practices in financial education. The first was a policy briefing for organizations participating as exhibitors at Hill Day. The second was a reception held in the Dirksen Senate Office building for congressional staff and the public. Both events provided those groups with knowledge and resources to improve financial education in their home states.
"This community is so prepared to lift everyone up and make sure we have the knowledge and resources to share this information
- Elena Robertson, The Associate Director for Life Smarts Development at the National Consumers League
The briefing gave exhibitors the opportunity to learn more about NEFE’s newly released National Report Card and how to best engage with federal leaders. It was a rousing success, with exhibitors learning from NEFE staff and Board Member Rachel Feldmann. Attendees took the new insights and shared them at the centerpiece of Hill Day: the reception in the Senate.
The reception event was co-hosted by chairs of the Senate Financial Literacy Caucus, Sens. Jack Reed (D-RI) and Tim Scott (R-SC). Over 50 of the financial education field’s leading organizations came together in the Senate to inform and advocate to members of Congress and their staff.
The room was buzzing with financial education organizations sharing the impact of their work, and with Hill staff asking questions to learn more about financial education. Conversations centered around expanding financial education graduation requirements, the need for teacher training and the Financial Literacy and Education Commission National Strategy.
Financial Literacy Day on the Hill is a reminder that one organization cannot do this work alone. We must continue building our coalition by collaborating with one another, educating people new to the field and sharing our ideas with policy leaders.
"This kind of work takes collaborations and partnership, that is where you excel.
- Sen. Jack Reed (D-RI)
A special thanks to Jump$tart President Laura Levine and her entire team for their continued support and coordination of Hill Day. We stand ready to continue advocating, alongside the rest of the financial education field, to ensure everyone can live their best financial life.
