Financial Knowledge and Financial Education of College Students

Abstract

This chapter describes previous research about college students’ financial knowledge as well as approaches to teach financial information to this population. It reviews previous research in these two areas and concludes with ideas for future research. This chapter highlights some of the issues found with measurements of students’ financial knowledge and recommends that larger samples and oversampling of specific students groups may be the key to overcome some of these issues. This chapter also highlights the lack of consensus on ideal models for financial education and points to this shortcoming as indicative of a need for more research to determine the success and failure of existing financial education programs.