Impact of SES, instructions, and school climate on financial literacy and mathematics achievement in PISA 2022

• In Event: AERA Roundtable Session Friday 11:40 am Four Seasons Ballroom 2-3
  In Roundtable Session: Exploring Student SES and OTL From the Perspectives of Large-Scale Education Studies (Table 2)

Abstract

Student socioeconomic status (SES) and opportunity to learn (OTL) explain how the home, teacher, and school factors relate to student financial literacy and mathematics achievement. This study examines the interplay between these SES and OTL measures, providing insights into the key factors influencing student financial literacy and mathematics achievement. This information is crucial for developing policies to improve financial literacy and mathematics achievement for all students, promote educational equity, and enhance students' financial literacy and mathematical knowledge.

Financial literacy is critical for students' future success in academics and career paths, enabling them to make informed financial decisions and manage their finances effectively. Understanding the factors that influence financial literacy helps design educational programs that prepare students for real-world challenges. Furthermore, proficiency in mathematics is often linked to higher financial literacy, as mathematical skills underpin many financial concepts. Studying these relationships can enhance mathematical and financial education, fostering well-rounded, financially savvy individuals. Research suggests that students’ SES and OTL are closely related to financial literacy and mathematics achievement (Kang & Cogan, 2022; Wang et al., 2024). Wang and colleagues (2021) found that OTL measures in PISA 2012 data significantly predicted achievement at the student and school level and mediated the relationship between self-efficacy and mathematics achievement at the student level. Kang and Cogan (2022) found that students with lower SES backgrounds had difficulty transferring curriculum-based mathematics knowledge and skills to mathematics literacy; they needed a greater focus on mathematics learning to improve their capacity to interpret and evaluate real-world problems mathematically and make better decisions. Other research indicated that measures related to SES and OTL are closely linked to student performance in financial literacy and mathematics achievement (Wang et al., 2024; Wiberg & Rolfsman, 2021).

The present study uses the PISA 2022 assessment and contextual data to explore the impact of student SES, instructional factors, and school climate on student financial literacy and mathematics achievement. The analyses include items from the school questionnaires about school climate examining aspects such as student behavior, safety, and inclusivity; the teacher questionnaires about instructional time and teacher education level; and the Economic, Social, and Cultural Status (ESCS) index, student NSLP eligibility, and demographic variables (i.e., gender and race/ethnicity) at the student level to explore possible group differences.

The findings from this study indicate that the ESCS index and NSLP eligibility highlight the disparity in educational resources and opportunities available to students from different socioeconomic backgrounds. Understanding these disparities is crucial for addressing the achievement gap and promoting educational equity. Quality of instruction and a positive school environment are necessary for improving student outcomes. Findings also show that schools that provide high-quality education and a positive learning environment help mitigate the disadvantages students with low SES backgrounds face. In addition, well-prepared and effective teachers can enhance students' understanding of complex concepts in mathematics and financial literacy. These findings contribute to a deeper understanding of these relationships and the complexities of educational inequality, improving educational practices, and promoting student success.

Authors

• Laura Coward Egan, Westat

• Judy H. Tang, Westat

• Olasunkanmi James Kehinde, Norfolk State Uinversity