Financial literacy education and college enrolment intentions: Exploring educational access amongst low-income high school students

Many low-income students in the United States miss the opportunity to attend college due to limited financial knowledge and a lack of understanding about scholarships, financial aid and college expenses. This study (research idea), grounded in a focused review of the existing literature rather than the analysis of newly-collected data, proposes a study to examine whether teaching financial literacy in high school can help these students make informed financial decisions and feel more confident about pursuing higher education. Specifically, the proposed study asks: Does financial literacy education increase the intention to enrol in college amongst low-income students? To explore this question, surveys would be administered to approximately 500 - 1,000 low-income high school seniors (operationally defined by Pell Grant eligibility, qualification for free or reduced-price meals or family income at or below 200% of the federal poverty line) to assess their financial knowledge, exposure to financial education and college enrolment intentions. The proposed study will compare students who received financial literacy instruction with those who did not. It is anticipated that financially literate students will demonstrate greater preparedness to manage college costs, identify financial resources and plan for college. Findings aim to guide educators and policy-makers in reducing barriers to college access. As this study is presented as a research idea, no data have yet been collected or analysed; the contribution lies in the conceptual framing, the integration of recent empirical literature and the detailed methodological proposal that future researchers can implement.