A review of Financial Education Implementation in Higher Education

Abstract

[EN] While undeniably enriching, the academic odyssey sometimes leaves a void where financial education should reside. Graduates should have optimal knowledge of financial matters to maximise their financial planning. Recognising this gap, higher education institutions have implemented financial education to bridge the gap for students before they enter the workforce. This paper reviews existing studies where higher education has implemented financial education and its outcomes, including program length, format, platform, and voluntariness. The findings reveal a diverse landscape of financial education initiatives in higher education, with varying degrees of success in achieving desired outcomes. The study will benefit higher education and policymakers considering implementing financial education. The review highlights the importance of ongoing evaluation and refinement of financial education initiatives to meet students' needs better and maximise their long-term financial well-being.