“Value-added” Financial Education
Abstract or Description
American colleges are increasingly promoting financial literacy among college students through two competing methods: traditional classroom instruction and peer financial counseling. Both methods are effective at teaching financial literacy skills, but the difference between the methods in what students learn has never previously been quantified. This session will describe a project that explored the difference between the two methods in what students learn on the topics of budgeting and credit/debt. Session objectives include discussing the results of this project and its implications for teaching financial literacy skills to college students. The audience will be invited to build upon the findings reported and brainstorm additional ideas for financial literacy efforts. Attendees will learn the effectiveness of teaching financial literacy skills via each method and the relative advantages and disadvantages of each.
