Jennifer Robson on financial literacy

The costs associated with post-secondary education are enough to deter many students from considering attending University.  But many of these students, particularly those from low-income families, aren’t aware of the financial programs available to them, nor are they aware that their earning potential rises significantly if they earn a higher degree.

Marc Frenette and co-author Jennifer Robson, appointed this fall as Lecturer in the Riddell Graduate Program in Political Management, recently examined the issue of “financial literacy”  and have published their findings in their report,  Low levels of financial literacy pose barrier to higher education.

Frenette and Robson found that Canadian students tend to overestimate the costs and underestimate the benefits of attending University, and this is especially true of low-income students.  And, few programs are available to ensure that students are made aware of the financial opportunities available to them.

The report calls for further study on financial literacy as a barrier to post-secondary education for lower-income youth.

Frenette and Robson’s report was published under the auspices of the Higher Education Quality Council of Ontario (HEQCO). Both authors  will be speaking to the report at the conference, Fear of Finance: Financial Literacy and Planning for Postsecondary Education, hosted by the HEQCO and taking place on November 3 and 4 in Toronto.