Friday, March 25, 2016

Evidence Financial Literacy Education Works?

Wisconsin Public Radio recently completed an excellent series on financial literacy - and the lack of it across the nation.  The series included coverage of a study by the University of Wisconsin that tracked credit scores in states before and after financial literacy requirements were introduced.

Comments from the author J. Michael Collin who directs the UW Center for Financial Security:
"We followed the credit scores, on average, of people before and after the state implemented the curriculum, and the average credit score went up about 20 points, mostly because they were more likely to pay their bills on time."
Interesting stuff.