Financial Literacy in the Community College Classroom: A Curriculum Intervention Study

• In Event: 60.084 - Roundtable Session 20
  In Roundtable Session: 60.084-13 - Teaching and Learning in Community Colleges

Abstract

Ninety-three sections of Urban Community College's New Student Course were included in this randomly assigned curriculum intervention study. Sixty-one treatment sections received a financial literacy curriculum unit, while control sections conducted business as usual. Students were pre- and post-tested using a nationally normed testing instrument on their knowledge of financial literacy. Treatment sections realized an average gain of 11 percentage points from the pre- to post-test. We find that student pre-test scores, receiving the treatment, and the academic ability of the sections to be statistically significant predictors of student post-test scores using ordinary least squares and hierarchical linear modeling. We conclude that our financial literacy curriculum unit has a positive impact on student financial literacy in the community college examined.

Authors

• Erin A. Yetter, Federal Reserve Bank of St. Louis - Louisville Branch

• Mary C. Suiter, Federal Reserve Bank of St. Louis