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Financial education and the debt behavior of the young
Young Americans are heavily reliant on debt and have clear financial literacy shortcomings, yet evidence on the relationship between financial education and youths? subsequent debt behavior remains both limited and mixed. In this paper, we study the effects of exposure to financial training on debt outcomes in early adulthood among a large and representative sample of young Americans. Variation in exposure to financial training comes from statewide changes in high school graduation requirements regarding financial literacy, economics, and mathematics that were mandated in the late 1990s and ...