Does State-Mandated Financial Education Reduce High School Graduation Rates?

22 Pages Posted: 5 Jul 2022

See all articles by Carly Urban

Carly Urban

Montana State University - Bozeman - Department of Agricultural Economics and Economics

Abstract

Concerned about low levels of financial literacy among teens and the importance of their looming financial decisions as emerging adults, state policymakers have expanded high school personal finance graduation requirements. Did these added requirements create an additional barrier for students? Comparing students in states with and without standalone personal finance course requirements before and after the requirements went into place, there is no evidence that these requirements reduced graduation rates overall, by race, by gender, or by family income. Existing research quantifies improvements in debt and credit behaviors, and these findings suggest there are not simultaneous adverse effects overall or for at-risk students.

Keywords: high school graduation, personal finance, financial education

JEL Classification: G53, D14, I24

Suggested Citation

Urban, Carly, Does State-Mandated Financial Education Reduce High School Graduation Rates?. IZA Discussion Paper No. 15402, Available at SSRN: https://ssrn.com/abstract=4154045 or http://dx.doi.org/10.2139/ssrn.4154045

Carly Urban (Contact Author)

Montana State University - Bozeman - Department of Agricultural Economics and Economics ( email )

Bozeman, MT 59717-2920
United States
4069942005 (Phone)

HOME PAGE: http://www.montana.edu/urban

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