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So Much Financial Literacy: So Few Results

Explore the limitations of current financial literacy programs and discover a behavior-based model that addresses the impact of poverty on learning and cognition. This model integrates a life coaching framework to empower individuals in fixing their finances. Join the discussion on improving financial aid, scholarships, career preparedness, and personal finance for a more sustainable financial future.

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So Much Financial Literacy: So Few Results

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  1. So Much Financial Literacy:So Few Results Toward a Behaviorist Model of Financial Literacy

  2. PCC, Debt and FinLit • Demographics • PCC’s Response to CDR and Student Debt • Fin Lit Programs: • Online Mandatory Financial Literacy • In-person Financial Literacy • Grace Counseling Program • Delinquency Management

  3. We had to ask ourselves, “Why” • The Why Questions!? • Economics + Psychology = Behavioral Finance • The Cognitive Horizon • Hyperbolic Discounting • Base Rate Fallacy • Atrophy Effect

  4. Even worse under conditions of poverty • Scarcity (Poverty) • Generational Poverty

  5. Toward a New Model • We need to rethink the problem • A behavior based model: • Recognizes the effects of poverty on learning and cognition • Looks to expand the cognitive horizon over a longer period • Based on a life coaching framework to help folks fix their finances • Integrates financial aid, scholarships, career preparedness, personal finance • Middle Class Financial Literacy Is not Sufficient

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