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Author ORCID Identifier

https://orcid.org/0009-0007-8965-990X

Date Available

8-3-2026

Year of Publication

2026

Document Type

Dissertation

Degree Name

Doctor of Philosophy (PhD)

College

Graduate School

Department/School/Program

Public Policy and Administration

Faculty

Rajeev Darolia

Faculty

Annelise Russell

Abstract

I examine how financial education shapes students’ financial knowledge, college financing decisions, and longer-term financial behavior.

The first chapter studies whether taking high school financial education in Kentucky affects students’ college financing decisions using linked administrative records on high school course-taking and postsecondary financial aid. Using school-level financial education course availability as an instrument, the chapter evaluates whether exposure to financial education is associated with differences in student loan borrowing and receipt of need-based aid.

The second chapter examines whether exposure to state high school financial education mandates improves financial literacy and longer-term personal finance behavior among U.S. adults. Using the National Financial Capability Study, the chapter documents persistent financial literacy gaps across demographic groups and evaluates behaviors such as retirement account contribution and active investing. The findings suggest that financial education mandates improve financial behaviors among younger individuals through increased financial literacy.

The third chapter analyzes survey data from Hispanic college students at a Texas Hispanic-Serving Institution. The survey examines financial literacy, financial stress, financial behaviors, and student demand for financial education resources. Results show a gap between students’ confidence in managing daily finances and their objective financial knowledge, along with limited emergency savings, substantial work obligations, reliance on informal information sources, and strong interest in practical financial education supports.

Together, the three chapters examine financial education as both a policy intervention and a student-support tool, highlighting how its effects may depend on timing, institutional context, student circumstances, and the practical relevance of the information provided.

Digital Object Identifier (DOI)

https://doi.org/10.13023/etd.2026.390

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