This includes financial literacy. Tbf, I have no idea what the average level of financial literacy is. But I worked in financial services and I can confirm tha

This includes financial literacy. Tbf, I have no idea what the average level of financial literacy is. But I worked in financial services and I can confirm that: having a lot of cash from a job in which you are supposed to have financial literacy (corporate lawyer, accountant, etc.) and/or working in financial services in which you have completed exams on financial literacy...does not mean you have financial literacy/will make reasonable decisions. It shifts your view of reality significantly when you are in your early 20s, just out of college having to explain basic elements of finance to: a financial adviser managing $100mm of other people's money, a corporate lawyer worth ~$10mm, [insert other horrific situations]. ...there is no other way to gain knowledge apart from learning, it is not some innate skill. But that supposes that people designing the course know what they are doing, this is a fairly ambitious assumption given that anyone who has financial competence is, generally, not designing courses for the state govt. And, ofc, lack of information isn't why people make poor financial choices. One of the flaws of financial regulation (and economics) is assuming that if everyone had perfect information, they would make the same decision. This is equivalent to the guy who has a view on the death penalty and thinks anyone who disagrees with them does so because they don't have the "correct information". The issue isn't information, people know they shouldn't take out the high-interest loan when they have to speak to some sleazy guy in an ill-fitting suit at a strip mall (these heuristics work well). People take out these loans because of poverty and a lack of options (particularly in the US, massive unbanked population, large banks won't deal with poor people, unconscionable level of arbitrary fees that fine poverty). Unless the course teaches people how not to be poor, it is flushing money down the drain. (A side-note for the target reader: the reason why rich people make bad decisions also isn't bad information...it is usually a combination of greed and studying to get stupid i.e. subjects like economics. Wealthy people only see upside, they will believe utterly ludicrous shit that makes no sense because...hey, they are wealthy, and they got wealthy through those smarts (as an example, every wealthy investor I have ever met has gone through the "goldbug" phase...it is amazing how consistent this is). Again, you can't teach it. Ironically, if you combined the paranoia of a poor person with the risk tolerance of a risk person, you would actually have someone who makes decent decisions...but those two attributes tend not to be found within one individual.)