1. Short title This Act may be cited as the Financial Literacy for Students Act . 2. Statewide incentive grants for financial literacy education Part F of title IV of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 7251 et seq.) is amended by adding at the end the following: 5 Financial Literacy 4651. Statewide incentive grants for financial literacy education (a) Grants Authorized From amounts appropriated under subsection (e), the Secretary may award grants to State educational agencies to enable State educational agencies, on a statewide basis— (1) to integrate financial literacy education into each public elementary school and public secondary school within the State that is eligible to receive funds under title I; and (2) to provide professional development regarding the teaching of financial literacy in core academic subjects to each secondary school teacher of financial literacy or entrepreneurship within the State. (b) Permissible uses of funds In carrying out the grant activities described in subsection (a), the State educational agency may use grant funds to— (1) implement school-based financial literacy activities, including after school activities; (2) enhance student understanding and experiential learning with consumer, economic, entrepreneurship, and personal finance concepts