The lessons that elementary school students learn about saving can have a lasting effect, according to a new study supported by the Treasury Department.

Fifth-grade students in Eau Claire, Wis., who completed roughly five hours of financial education retained the bulk of their knowledge one year later, according the study conducted by the nonprofit Corporation for Enterprise Development and backed by the Treasury. Of the 272 Eau Claire fifth graders who participated in the study, those who received financial education in spring 2012 raised their average score on a quiz testing their knowledge from a baseline of 5.65 out of 13 to 7.93. One year later, their average score had dipped only slightly to 7.88.

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