Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/334683 
Year of Publication: 
2025
Series/Report no.: 
IZA Discussion Papers No. 18268
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Research documents the positive effects of state-required financial education in high school on downstream financial outcomes but pools different types of mandates. Do state policies embedding personal finance content into another course have the same effect as those that require a standalone course? This paper considers the relative effects of the two policy levers on credit scores and subjective financial well-being, using data from states implementing these policies in similar years. Our results show that states requiring a full semester of coursework improve both credit scores and subjective measures of financial well-being, while states allowing more flexibility in implementing personal finance coursework into other classes do not.
Subjects: 
financial education
household finance
financial well-being
credit scores
JEL: 
D12
D14
D15
G53
Document Type: 
Working Paper

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