The impact of financial education in high school and college

This post is in relation to House Bill 51

In order to secure the financial future of our nation’s families and citizens, people need to make sound money managing decisions. Financial education can serve to help increase financial literacy and awareness. A recent study investigated the impact of finance education on investment knowledge and household savings rates years after the financial education was delivered from 1,039 alumni of a large Midwestern university.

Results:
Participation in college level course in personal finance was associated with higher levels of investment knowledge and savings rates.

This study found that financial education in college can have a positive impact on financial decision making. Individuals and families who make sound financial decisions are more likely to have secure financial futures. Educating people in college may be at least one important avenue for helping to build a financially secure nation.