Impact

A meta-analysis of 76 randomized experiments with a sample size of 160,000 individuals indicated that financial education programs have, on average, positive causal treatment effects on financial knowledge and downstream financial behaviors.

Studies indicate that the impact appears strongest when financial literacy is taught using interactive, experiential methods rather than purely theoretical approaches, and when integrated with practical opportunities to apply learned concepts.

Petrosino et al. ran a meta-analysis of 30 studies conducted over the previous 40 years that compared youth who were formally processed to youth who received diversion. The review concluded that diversion programs are effective in reducing recidivism arrest, and that they become more effective when youth also receive services like those offered by The Niche Clinic.

Summer jobs programs, like the one run by The Niche Clinic, can significantly reduce the chance that a youth will encounter the justice system through a violent offense.

Improving financial capability is a key driver of violence reduction, and there is no better way to build financial capability than through a hands-on program that connects youth with financial institutions.

Teens who expect to graduate from a four-year college, and have designated a portion of their savings for college, are approximately three times more likely to attend college than those with no account. Research shows that an intervention like ours, combining financial access with self-efficacy supports like bank account access and coaching, produces improved self-efficacy and reduced risk-taking behavior.