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Financial education and the debt behavior of the young
Young Americans are heavily reliant on debt and have clear financial literacy shortcomings, yet evidence on the relationship between financial education and youths? subsequent debt behavior remains both limited and mixed. In this paper, we study the effects of exposure to financial training on debt outcomes in early adulthood among a large and representative sample of young Americans. Variation in exposure to financial training comes from statewide changes in high school graduation requirements regarding financial literacy, economics, and mathematics that were mandated in the late 1990s and ...
Working Paper
Prior Knowledge, Module Design, and Student Dropout in Online K-12 Education
We examine student dropout in online K-12 education coursework using administrative data for 442,000 students, 64 economics and personal finance modules, and 2.1 million module assignments between 2014 and 2025. We find that module length, prior knowledge, embedded formative assessments, and school district demographics independently predict whether students complete assigned modules. Each additional page is associated with a 0.24-percentage-point decrease in completion probability, but this relationship is 30 percent weaker for students with above-median prior knowledge. Embedded knowledge ...