Date of Award

Spring 5-15-2023

Document Type

Undergraduate Honors Thesis

Degree Name

Bachelor of Business Administration in Finance




Priya Garg


Californians are facing several financial crises, headlined by 4.5 million Californians falling below the poverty line, a 4.2% unemployment rate, and the fall of Silicon Valley Bank in early March 2023. In the face of these perilous circumstances, it is worth asking if California’s education system could be improved to accommodate more financial literacy classes. Currently, the Golden State does not mandate a financial literacy course in any level of education, kindergarten through senior year of college. Previous research indicates that financial literacy courses would be more effective if mandated in college courses rather than high school. However, there has been no extensive research performed in an accredited California college or university regarding the financial literacy levels of enrolled students. This study aims to determine the level of financial literacy that students at the University of San Diego possess. Using a survey distributed via a QR code or a link, participants are asked a series of demographic questions, questions about previous financial literacy courses they have potentially taken, and a series of personal finance classes. The data is then organized via Stata into t-tests to efficiently organize the results. Analysis revealed that most of the demographic groups surveyed had little or no statistical difference regarding financial literacy. These results could help lay the foundation for future California colleges and universities to expand their general education to include financial literacy.