CA ACR147

Declares April 2010 as Financial Aid and Literacy Month in California to raise public awareness about increased financial literacy needs.

Encourages legislators, employers, schools, service groups, community organizations, libraries, financial institutions, and media to provide financial literacy education opportunities for all Californians.

Calls for collaboration with the California Society of Certified Public Accountants, California Jump$tart Coalition, and other organizations to conduct outreach and education.

Cites data showing widespread financial challenges including 630,000 California homeowners facing foreclosure in 2009, average household credit card debt of $10,679, and college seniors graduating with average credit card debt of $4,138.

Notes that high school seniors scored an average of 48.3 percent on a national financial knowledge survey and that 84 percent of undergraduates indicated need for more financial management education.