Youth Financial Education Act

Youth Financial Education Act - Amends the Elementary and Secondary Education Act of 1965 to establish a new part L, Promoting Youth Financial Literacy, under title X (Programs of National Significance).

Authorizes the Secretary of Education to provide grants to State educational agencies (SEAs) to develop and integrate youth financial education programs for students in elementary and secondary schools.

Sets forth requirements for State plans and for allocation of grants to States.

Requires States to use grants to: (1) provide funds to local educational agencies (LEAs) and public schools to carry out financial education programs for students in kindergarten through grade 12 based on the concept of achieving financial literacy through the teaching of personal financial management skills and the basic principles involved with earning, spending, saving, and investing; (2) carry out professional development programs to prepare teachers and administrators for financial education; and (3) monitor and evaluate programs.

Directs the Secretary to make a grant to or contract with an entity with substantial financial education experience for a national clearinghouse for instructional materials and information on model financial education programs and best practices.

Directs the Secretary to: (1) develop performance measures for the part L programs of State grants and of the clearinghouse; and (2) report to the Congress annually on the implementation of part L programs.

Authorizes appropriations.