Author ORCID Identifier

Jamie Wagner

Document Type

Article

Publication Date

3-17-2017

Publication Title

The Journal of Economic Education

Volume

48

Issue

2

First Page

93

Last Page

112

Abstract

This review discusses the heterogeneity in the effectiveness of financial education programs that occurs because of the unique conditions for programs and methods to evaluate them. The authors define six groups served by financial education: children, youth, college students and young adults, working adults, military personnel, and low-income consumers. They then discuss research and evaluation literature for each group with a critical eye on program purpose, content, and evaluation. They also present findings affecting multiple groups on four issues: student loans, homeownership, retirement planning, and financial advising. The accumulated evidence on the effectiveness of financial education is positive, although the results are nuanced and sometimes limited. The authors argue that understanding this broad landscape in studying financial education is critical for future research and evaluation.

Comments

This is an original manuscript / preprint of an article published by Taylor & Francis in The Journal of Economic Education on 17 March 2017, available online: https://www.tandfonline.com/doi/full/10.1080/00220485.2017.1285738.

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