A new study shows the nation’s youths have a poor grasp of basic financial concepts and a knowledge gap favoring boys, even if they were studying the subject.
Researchers at the University of Nebraska say that nearly 6,700 high school students last year scored on average 52 percent on a standardized personal-finance test.
Students taking the 30-question test were already enrolled in consumer science, personal finance, or similar classes. And they were competing for recognition and cash prizes in the National Finance Challenge in spring 2011. The authors are scheduled to present their finding at the Council of Economic Education’s annual financial-literacy conference in October in Kansas City, Mo.
A version of this article appeared in the September 12, 2012 edition of Education Week as U.S. Students Fail Test on Financial Literacy