Semester

Spring

Date of Graduation

2025

Document Type

Dissertation

Degree Type

DBA

College

Chambers College of Business and Economics

Department

Accounting

Committee Chair

Jack Dorminey

Committee Co-Chair

Jeffrey Hobbs

Committee Member

Jeffrey Hobbs

Committee Member

L. Christian Schaupp

Committee Member

Elizabeth Vitullo

Abstract

John Adams once stated that “All the perplexities, confusions and distresses in America arise not from defects in their constitutions or confederation, not from a wont of honor or virtue, so much as from the downright ignorance of the nature of coin, credit, and circulation” (Adams, 1787). Yet the apparent lack of dedication to the financial literacy of the U.S. population seems contrary to one of our Founding Father’s sentiments. Implementation of a financial literacy curriculum at the secondary education level can be described as ad hoc at best. Using delinquency data and the financial literacy programs of all 50 states, I examine the association between the type of financial literacy program and the delinquency rates for credit cards, auto loans, and mortgages. I find that the states that implement a rigorous stand-alone required course are associated with lower delinquency rates in all three categories. The results for the less robust financial literacy implementations are mixed, and in some cases counterproductive, reinforcing the importance of the more rigorous approach.

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