This paper reports on research conducted by the Federal Reserve Board with the Department of Defense, Army Emergency Relief, and San Diego City College. The research concerns a longitudinal study involving two groups of soldiers-one receiving a two-day financial education course as part of their advanced individualized training, and a second comparison group that did not receive any financial education. Findings suggest that the financial education course did not have a strong effect. The authors propose several explanations for this result.
Agency: Board of Governors of the Federal Reserve System