Research demonstrates that state K-12 financial education requirements improve students' financial knowledge and behaviors.
When High School Students Are Required to Take Financial Education:
- Students were 2.1 percentage points less likely to hold a credit card balance.
- Take-up of subsidized Stafford loans increased by 5.7% (Stoddard and Urban 2018)
- Young adults who took required financial education in high school were 4 percentage points less likely to take out payday loans.(Harvey 2019)
- Personal finance requirements that are three years or older result in a 7% improvement in federal student loan repayment for low-income and first-generation students. (Mangrum 2022)
