Texas SB602 enhances the Preparation for Adult Living Program for foster children by adding financial literacy education and housing support.

Texas SB602 amends the Preparation for Adult Living Program to better prepare foster children for independent living. The bill mandates that the program include a financial literacy education program, developed in collaboration with the Office of Consumer Credit Commissioner and the State Securities Board. This program will cover topics such as obtaining and interpreting credit scores, protecting and improving credit scores, risks of payday loans, and avoiding predatory lending practices.

Texas SB602 enhances the Preparation for Adult Living Program for foster children by adding financial literacy education and housing support.

Texas SB602 amends the Preparation for Adult Living Program to better prepare foster children for independent living. The bill mandates that the program include a financial literacy education program, developed in collaboration with the Office of Consumer Credit Commissioner and the State Securities Board. This program will cover topics such as obtaining and interpreting credit scores, protecting and improving credit scores, risks of payday loans, and avoiding predatory lending practices.