International Association of Educators   |  ISSN: 2834-7919   |  e-ISSN: 1554-5210

Original article | International Journal of Progressive Education 2021, Vol. 17(3) 397-409

Student Perceptions of the Implications of a Financial Literacy Project Within a College Mathematics Course

Michelle Meadows & Sami Mejri

pp. 397 - 409   |  DOI: https://doi.org/10.29329/ijpe.2021.346.25   |  Manu. Number: MANU-2101-07-0004.R1

Published online: June 07, 2021  |   Number of Views: 339  |  Number of Download: 626


Abstract

The purpose of this study was to investigate how students perceived their engagement in an experiential learning project with a focus on financial literacy within general education mathematics courses (skills, knowledge, attitudes, and behaviors). Specifically, the researchers were looking to investigate whether the completion of a finance project within a general education mathematics course influences students' perception of and knowledge about personal finance concerning their lives and career paths. An aggregated analysis of survey responses using Qualtrics showed approximately half of students lacked knowledge of personal finance, the skills to interpret financial information, and expressed limited knowledge of loan repayment calculations. While over half of the participants would recommend this course to other students. There was no statistical significance in the correlation between students' assessments of their pre-and-post financial literacy knowledge and whether they recommend this course for future students. However, the majority of responders indicated that they have thought about future career and personal finance before completing the project.

Keywords: Student Loan Debt, Financial Literacy, Personal Finance, Experiential Learning, Finance Project


How to Cite this Article?

APA 6th edition
Meadows, M. & Mejri, S. (2021). Student Perceptions of the Implications of a Financial Literacy Project Within a College Mathematics Course . International Journal of Progressive Education, 17(3), 397-409. doi: 10.29329/ijpe.2021.346.25

Harvard
Meadows, M. and Mejri, S. (2021). Student Perceptions of the Implications of a Financial Literacy Project Within a College Mathematics Course . International Journal of Progressive Education, 17(3), pp. 397-409.

Chicago 16th edition
Meadows, Michelle and Sami Mejri (2021). "Student Perceptions of the Implications of a Financial Literacy Project Within a College Mathematics Course ". International Journal of Progressive Education 17 (3):397-409. doi:10.29329/ijpe.2021.346.25.

References
  1. Baum, S. (2016). Student debt: Rhetoric and realities of higher education financing. Palgrave Macmillan.  [Google Scholar]
  2. Brown, J., & Kurweil, M. (2017). The complex universe of alternative postsecondary credentials and pathways. Cambridge, UK: American Academy of Arts and Sciences. https://www.amacad.org/multimedia/pdfs/publications/researchpapersmonographs/CFUE_Alternative-Pathways/CFUE_Alternative-Pathways.pdf [Google Scholar]
  3. Federal Reserve Board (2018). Report on the economic well-being of the U.S. Households in 2017. https://retirementincomejournal.com/wp-content/uploads/2018/06/2017-report-economic-well-being-us-households-201805.pdf  [Google Scholar]
  4. Ferguson Patrick, K., Macqueen, S., & Reynolds, R. (2014). Pre-service teacher perspectives on the importance of global education: World and classroom views. Teachers and Teaching: Theory and Practice, 20(4), 470-482. Retrieved from http://dx.doi.org.proxy1.ncu.edu/10.1080/13540602.2014.881639 [Google Scholar]
  5. Goldrick-Rab, S., Anderson, D. M., & Kinsley, P. (2016). Paying the Price: College Costs, Financial Aid, and the Betrayal of the American Dream. Chicago: University of Chicago Press.  [Google Scholar]
  6. Joseph, A., & Payne, M. (2011). An essential partnership for preparing students to work in the global knowledge economy. International Journal of Learning, 17(11), 417-428.  [Google Scholar]
  7. Jorgensen, B. L. (2007). Financial literacy of college students: Parental and peer influences. Unpublished master’s thesis, Virginia Polytechnic Institute and State University, Blacksburg, Virginia.  [Google Scholar]
  8. Lin, J. T, Bumcrot, C., Ulicny, T., et al., (2019). The State of U.S. Financial Capability: The 2018 National Financial Capability Study, FINRA Investor Education.Foundation. https://www.usfinancialcapability.org/downloads/NFCS_2018_Report_Natl_Findings.pdf  [Google Scholar]
  9. Menashy, F., & Dryden-Peterson, S. (2015). The Global Partnership for Education’s evolving support to fragile and conflict-affected states. International Journal of Educational Development, 4482-94. doi:10.1016/j.ijedudev.2015.07.001 [Google Scholar] [Crossref] 
  10. Miles, M. B., Huberman, A. M., & Saldaña, J. (2014). Qualitative data analysis: A methods sourcebook (Third ed.). California: SAGE. [Google Scholar]
  11. ODE (2017). Financial Literacy Standards. http://education.ohio.gov/Topics/Learning-in-Ohio/Financial-Literacy/Financial-Literacy-Standards  [Google Scholar]
  12. OECD (2006). Educational attainment of the adult population. Indicator A 1. https://www.oecd.org/education/skills-beyond-school/37376068.pdf [Google Scholar]
  13. OECD (2020). Financial education: International survey of adult financial literacy. https://www.oecd.org/financial/education/launchoftheoecdinfeglobalfinancialliteracysurveyreport.htm  [Google Scholar]
  14. OECD (2011) Measuring Financial Literacy: Core Questionnaire in Measuring Financial Literacy: Questionnaire and Guidance Notes for conducting an Internationally Comparable Survey of Financial literacy. Paris: OECD.  [Google Scholar]
  15. Pew Research Center (2019). Median amount of outstanding student debt varies widely by education level. https://www.pewresearch.org/fact-tank/2019/08/13/facts-about-student-loans/ft_19-08-13_studentloans_median-amount-outstanding-student-debt-varies-education-level/ [Google Scholar]
  16. Pfeffer, F. T. (2015). Equality and quality in education. A comparative study of 19 countries. Social Science Research, 51350-368. doi:10.1016/j.ssresearch.2014.09.004 [Google Scholar] [Crossref] 
  17. Social Security Administration (SSA) (2015). Research, statistics, and policy analysis. https://www.ssa.gov/policy/docs/research-summaries/education-earnings.pdf  [Google Scholar]
  18. U.S. Department of Education, National Center for Education Statistics. (2019). Digest of Education Statistics, 2018 (NCES 2020-009). https://nces.ed.gov/fastfacts/display.asp?id=76 [Google Scholar]
  19. U.S. Department of Education (2020). College affordability and completion: Ensuring a pathway to opportunity. https://www.ed.gov/college [Google Scholar]
  20. U.S. Financial Literacy and Education Commission (2019). Best practices for financial literacy and education at institutions of higher education. https://home.treasury.gov/system/files/136/Best-Practices-for-Financial-Literacy-and-Education-at-Institutions-of-Higher-Education2019.pdf [Google Scholar]
  21. Williams, J. D. (2019). The Decline in Educational Standards: From a Public Good to a Quasi-Monopoly. Lanham, MD: Rowman & Littlefield Publishers. [Google Scholar]