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Field
Paper Abstract
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Before
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After
This field study estimates the short-run effects of banks in schools on students’ financial behaviors, attitudes, and knowledge. The presence of in-school banking programs increased the rate that students owned bank accounts, improved students’ perceptions of banks, and increased indicators of financial socialization. Using the random assignment of banks at the school level as an instrument, being banked improved students’ attitudes about banking services and increased the rate that students engaged with their parents on financial issues. Banks in schools do not appear to influence student financial literacy or savings levels, however. Exposure to banking at school primarily serves as a mechanism to increase students’ awareness of financial services, and leads to more parent-child interactions related to financial issues.
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