Lasting Lessons: The Long-Term Impacts of School-Based Financial Education

Juan Carlos Chong, Veronica Frisancho, Antonella García and Édgar Ventura

No 2534, Research Department working papers from CAF Development Bank Of Latinamerica

Abstract: This study experimentally examines the long-term effects of school-based financial education, analyzing data from nearly 60,000 individuals in Peru, seven years post-intervention. Treated students increased their total debt by 7.2% and average loan size by 7.8%, shifting from revolving to non-revolving credit. Borrowing terms improved slightly, and repayment performance remained unaffected despite increased borrowing. Formal employment and business formation remained unchanged. Impacts were equitable across sex and socioeconomic status, but higher performing students gained more in credit access. During the COVID-19 pandemic, financial education enhanced resilience by reducing reliance on revolving credit in favor of productive loans.

Keywords: Educación; Estudiantes; Finanzas; Jóvenes; Sector académico; Habilidades y destrezas; Investigación socioeconómica (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:dbl:dblwop:2534

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