The Social Security Administration has given $3.1 million to UW-Madison for research on financial education.
The money will fund projects with the goal of ""identifying audiences for financial education, measuring financial literacy and testing the impact of different educational tactics,"" according to University Communications.
The principal investigator on the grant is J. Michael Collins, an assistant professor in the School of Human Ecology.
Collins' research focuses on behavioral finance, which studies the financial decisions people make.
Some of Collins' past research topics include the study of people who do not use traditional bank accounts, legal approaches to foreclosure and comparing employees of credit unions before and after 12 hours of online financial education.
