Financial Literacy and Investments in Higher Education

摘要: Using a rich data set from large U.S. non-profit organization, I find that low income post-secondary students are poorly informed about three main financial aspects of their higher education: future income, financing costs and opportunity cost being enrolled. This result holds for who academically talented, have been exposed to education (including semester-long personal finance class) relevant experiences. Furthermore, the first round results randomized controlled trial (N=117) suggests an hour-long workshop on college increases students’ GPA by 0.2 points (p-value=0.15) ability receive aid organization 11.4 percentage (p-value=0.25).