This paper asks whether personal financial management education is an effective mechanism for helping lower-income households accumulate financial assets and improve credit histories. The paper argues that the best existing studies of the effectiveness of financial literacy initiatives suggest...

The purpose of this study is to examine associations among financial education, financial knowledge, and risky credit behavior of college students. Using data from a sample of first-year college students, we found evidence that taking personal finance courses in high school and college is...

College students are facing a number of financial challenges, including rising college costs and subsequent escalation in student borrowing to finance their education. Financial aid has not kept pace with rising college costs, and fewer parents are helping to cover these costs, because they...

This study uses a combined measure of financial literacy or financial knowledge that includes both a test score of actual financial knowledge and a self-assessment of overall financial knowledge. The combined measure provides greater understanding about how financial knowledge affects financial...