Journal Evaluation in Education (JEE)
Journal Evaluation in Education (JEE)

an Open Access Journal

SINTA

1.6519

Impact

GScholar

16

H-Index

Journal Evaluation in Education (JEE)

an Open Access Journal


Implementation and Effectiveness of Financial Literacy in Higher Education Institutions: A Systematic Literature Review

Share
  • Purpose of the study: This study assesses the implementation and effectiveness of financial literacy education at the higher education level to inform the development of appropriate strategies for its integration in university curricula.

    Methodology: Through a systematic literature review using PRISMA methodology, this study investigates the implementation and effectiveness of financial education in universities and colleges. This research examined 127 peer-reviewed articles from leading international journals that were indexed in Scopus and Web of Science databases, documenting research on financial literacy in university contexts between 2015 and 2025

    Main Findings: The study demonstrates that financial literacy education differs significantly among universities and has not been uniformly implemented across various academic fields. Economic, business, and finance are the primary areas of focus in financial education applications; however integration into humanities, science, engineering, etc. is minimal

    Novelty/Originality of this study: Higher education stakeholders and the public can find the right position on how financial literacy should be implemented at the higher education level. Based on this knowledge, universities can design effective programs and curricula related to financial literacy content in higher education.

  • How to cite

    [1]
    “Implementation and Effectiveness of Financial Literacy in Higher Education Institutions: A Systematic Literature Review”, Jor. Eva. Edu, vol. 7, no. 1, pp. 65–74, Jan. 2026, doi: 10.37251/jee.v7i1.2187.
  • 208
    Abstract views
    219
    Downloads

    Metrics — Badges

    1. R. Syahrul, S. Suryana, H. Hendrayati, and C. Furqon, “The dynamics of entrepreneurship education in higher education: The role of family background and environment in developing entrepreneurial skills”, Jor. Eva. Edu, vol. 6, no. 2, pp. 590-600, 2025, doi: 10.37251/jee.v6i2.1540. DOI: https://doi.org/10.37251/jee.v6i2.1540
    2. S. Debarliev, A. Janeska-Iliev, O. Stripeikis, and B. Zupan, “What can education bring to entrepreneurship? Formal versus non-formal education,” J. Small Bus. Manag., vol. 60, no. 1, pp. 219–252, 2022, doi: 10.1080/00472778.2019.1700691. DOI: https://doi.org/10.1080/00472778.2019.1700691
    3. M. J. González-López, M. C. Pérez-López, and L. Rodríguez-Ariza, “From potential to early nascent entrepreneurship: the role of entrepreneurial competencies,” Int. Entrep. Manag. J., vol. 17, no. 3, pp. 1387–1417, 2021, doi: 10.1007/s11365-020-00658-x. DOI: https://doi.org/10.1007/s11365-020-00658-x
    4. S. Mukhtar, L. W. Wardana, A. Wibowo, and B. Shandy, “Does entrepreneurship education and culture promote students ’ entrepreneurial intention ? The mediating role of entrepreneurial mindset Does entrepreneurship education and culture promote students’ entrepreneurial intention? The mediating role of entre,” Cogent Educ., vol. 8, no. 1, 2021, doi: 10.1080/2331186X.2021.1918849. DOI: https://doi.org/10.1080/2331186X.2021.1918849
    5. S. Tomy and E. Pardede, “An entrepreneurial intention model focussing on higher education,” Int. J. Entrep. Behav. Res., vol. 26, no. 7, pp. 1423–1447, 2020, doi: 10.1108/IJEBR-06-2019-0370. DOI: https://doi.org/10.1108/IJEBR-06-2019-0370
    6. A. Harima, J. Gießelmann, V. Göttsch, and L. Schlichting, “Entrepreneurship? Let us do it later: procrastination in the intention–behavior gap of student entrepreneurship,” Int. J. Entrep. Behav. Res., vol. 27, no. 5, pp. 1189–1213, Jan. 2021, doi: 10.1108/IJEBR-09-2020-0665. DOI: https://doi.org/10.1108/IJEBR-09-2020-0665
    7. C. G. Iwu et al., “Entrepreneurship education, curriculum and lecturer-competency as antecedents of student entrepreneurial intention,” Int. J. Manag. Educ., vol. 19, no. 1, pp. 100295, 2021, doi: 10.1016/j.ijme.2019.03.007. DOI: https://doi.org/10.1016/j.ijme.2019.03.007
    8. G. Aparicio, T. Iturralde, and A. Maseda, “Conceptual structure and perspectives on entrepreneurship education research: A bibliometric review,” Eur. Res. Manag. Bus. Econ., vol. 25, no. 3, pp. 105–113, 2019, doi: 10.1016/j.iedeen.2019.04.003. DOI: https://doi.org/10.1016/j.iedeen.2019.04.003
    9. T. Ahmed, V. G. R. Chandran, J. E. Klobas, F. Liñán, and P. Kokkalis, “Entrepreneurship education programmes: How learning, inspiration and resources affect intentions for new venture creation in a developing economy,” Int. J. Manag. Educ., vol. 18, no. 1, pp. 100327, 2020, doi: 10.1016/j.ijme.2019.100327. DOI: https://doi.org/10.1016/j.ijme.2019.100327
    10. H. Qudsia Yousaf, S. Munawar, M. Ahmed, and S. Rehman, “The effect of entrepreneurial education on entrepreneurial intention: The moderating role of culture,” Int. J. Manag. Educ., vol. 20, no. 3, pp. 100712, 2022, doi: 10.1016/j.ijme.2022.100712. DOI: https://doi.org/10.1016/j.ijme.2022.100712
    11. J. Iqbal, M. Z. Asghar, A. Asghar, and Y. Waqar, “Impact of entrepreneurial curriculum on entrepreneurial competencies among students: The mediating role of the campus learning environment in higher education,” Frontiers in psychology, vol. 13, pp. 950440, 2022, doi: 10.3389/fpsyg.2022.950440. DOI: https://doi.org/10.3389/fpsyg.2022.950440
    12. S. Martínez-Gregorio, L. Badenes-Ribera, and A. Oliver, “Effect of entrepreneurship education on entrepreneurship intention and related outcomes in educational contexts: a meta-analysis,” Int. J. Manag. Educ., vol. 19, no. 3, p. 100545, 2021, doi: 10.1016/j.ijme.2021.100545. DOI: https://doi.org/10.1016/j.ijme.2021.100545
    13. J. M. Martins, M. F. Shahzad, and S. Xu, “Factors influencing entrepreneurial intention to initiate new ventures : evidence from university students,” J. Innov. Entrep., vol. 12, no. 1, pp. 63, 2023, doi: 10.1186/s13731-023-00333-9. DOI: https://doi.org/10.1186/s13731-023-00333-9
    14. D. Hahn et al., “Founding or succeeding? Exploring how family embeddedness shapes the entrepreneurial intentions of the next generation,” Technol. Forecast. Soc. Change, vol. 173, pp. 121182, 2021, doi: 10.1016/j.techfore.2021.121182. DOI: https://doi.org/10.1016/j.techfore.2021.121182
    15. M.-A. Georgescu and E. Herman, “The impact of the family background on students’ entrepreneurial intentions: An empirical analysis,” Sustainability, vol. 12, no. 11. 2020, doi: 10.3390/su12114775. DOI: https://doi.org/10.3390/su12114775
    16. T. Amin, A. Rasyid, and M. Mas’odi, “Elementary school students’ perceptions of physical education learning and its relation to the development of basic motor skills”, Jor. Eva. Edu, vol. 6, no. 3, pp. 703-714, 2025, doi: 10.37251/jee.v6i3.1795. DOI: https://doi.org/10.37251/jee.v6i3.1795
    17. K. Smolkowski et al., “Teaching self-management strategies to upper-elementary students: Evidence of promise from the We Have Choices program,” Psychol. Sch., vol. 60, no. 6, pp. 1681–1705, 2023, doi: 10.1002/pits.22710. DOI: https://doi.org/10.1002/pits.22710
    18. J. A. Salmerón Aroca, P. Moreno Abellán, and S. Martínez de Miguel López, “Teachers’ professional development and intelligent ways of coping with it: A systematic review in elementary and middle school education,” J. Intell., vol. 11, no. 1, 2023, doi: 10.3390/jintelligence11010001. DOI: https://doi.org/10.3390/jintelligence11010001
    19. H. Wu, W. Eungpinichpong, H. Ruan, X. Zhang, and X. Dong, “Relationship between motor fitness, fundamental movement skills, and quality of movement patterns in primary school children,” PLoS One, vol. 16, no. 5, 2021, pp. 1–13, 2021, doi: 10.1371/journal.pone.0237760. DOI: https://doi.org/10.1371/journal.pone.0237760
    20. W. G. van Kernebeek, M. L. A. de Kroon, G. J. P. Savelsbergh, and H. M. Toussaint, “The validity of the 4-Skills Scan A double-validation study,” Scand. J. Med. Sci. Sport., vol. 28, no. 11, pp. 2349–2357, 2018, doi: 10.1111/sms.13231. DOI: https://doi.org/10.1111/sms.13231
    21. J. O. Väätäjä, “A community of practice approach to the co-development of digital pedagogy: a case study of primary school teacher education practicum,” Eur. J. Teach. Educ., vol. 48, no. 3, pp. 583–600, 2025, doi: 10.1080/02619768.2023.2198102. DOI: https://doi.org/10.1080/02619768.2023.2198102
    22. Y. Zhurat et al., “Developing professional subjectivity in future primary school teachers in the context of a neuropedagogical approach,” BRAIN. Broad Res. Artif. Intell. Neurosci., vol. 11, no. 2sup1, pp. 64–81, 2020, doi: 10.18662/brain/11.2sup1/95. DOI: https://doi.org/10.70594/brain/11.2Sup1/95
    23. A. K. O. Nilsen et al., “Bi-directional prospective associations between objectively measured physical activity and fundamental motor skills in children: A two-year follow-up,” Int. J. Behav. Nutr. Phys. Act., vol. 17, no. 1, pp. 1–11, 2020, doi: 10.1186/s12966-019-0902-6. DOI: https://doi.org/10.1186/s12966-019-0902-6
    24. S. Vazou et al., “A systematic review and qualitative synthesis resulting in a typology of elementary classroom movement integration interventions,” Sport. Med. - Open, vol. 6, no. 1, pp. 1–16, 2020, doi: 10.1186/s40798-019-0218-8. DOI: https://doi.org/10.1186/s40798-019-0218-8
    25. J. Li, H. Luo, L. Zhao, M. Zhu, L. Ma, and X. Liao, “Promoting STEAM education in primary school through cooperative teaching: A Design-Based research study,” Sustain., vol. 14, no. 16, 2022, doi: 10.3390/su141610333. DOI: https://doi.org/10.3390/su141610333
    26. S. Stern, “Beyond knowledge-centred versus student-centred RE,” Br. J. Relig. Educ., vol. 45, no. 3, pp. 225–227, 2023, doi: 10.1080/01416200.2023.2202076. DOI: https://doi.org/10.1080/01416200.2023.2202076
    27. P. S. Melby, P. Elsborg, G. Nielsen, R. A. Lima, P. Bentsen, and L. B. Andersen, “Exploring the importance of diversified physical activities in early childhood for later motor competence and physical activity level: a seven-year longitudinal study,” BMC Public Health, vol. 21, no. 1, pp. 1–15, 2021, doi: 10.1186/s12889-021-11343-1. DOI: https://doi.org/10.1186/s12889-021-11343-1
    28. T. Utesch, D. Dreiskämper, R. Naul, and K. Geukes, “Understanding physical (in-) activity, overweight, and obesity in childhood: Effects of congruence between physical self-concept and motor competence,” Sci. Rep., vol. 8, no. 1, pp. 1–10, 2018, doi: 10.1038/s41598-018-24139-y. DOI: https://doi.org/10.1038/s41598-018-24139-y
    29. M. A. Ayanwale, I. T. Sanusi, O. P. Adelana, K. D. Aruleba, and S. S. Oyelere, “Teachers’ readiness and intention to teach artificial intelligence in schools,” Comput. Educ. Artif. Intell., vol. 3, pp. 100099, 2022, doi: 10.1016/j.caeai.2022.100099. DOI: https://doi.org/10.1016/j.caeai.2022.100099
    30. A. Kennedy and H. Stevenson, “Beyond reproduction: the transformative potential of professional learning,” Prof. Dev. Educ., vol. 49, no. 4, pp. 581–585, 2023, doi: 10.1080/19415257.2023.2226971. DOI: https://doi.org/10.1080/19415257.2023.2226971
    31. S. González-Víllora, M. J. Sierra-Díaz, J. C. Pastor-Vicedo, and O. R. Contreras-Jordán, “The way to increase the motor and sport competence among children: The contextualized sport alphabetization model,” Front. Physiol., vol. 10, 2019, doi: 10.3389/fphys.2019.00569. DOI: https://doi.org/10.3389/fphys.2019.00569
    32. S. Nally, N. D. Ridgers, A. M. Gallagher, M. H. Murphy, J. Salmon, and A. Carlin, “‘When you move you have fun’: Perceived barriers, and facilitators of physical activity from a child’s perspective,” Front. Sport. Act. Living, vol. 4, pp. 1–15, 2022, doi: 10.3389/fspor.2022.789259. DOI: https://doi.org/10.3389/fspor.2022.789259
    33. M. H. Li, R. K. W. Sum, C. H. P. Sit, S. H. S. Wong, and A. S. C. Ha, “Associations between perceived and actual physical literacy level in Chinese primary school children,” BMC Public Health, vol. 20, no. 1, pp. 1–9, 2020, doi: 10.1186/s12889-020-8318-4. DOI: https://doi.org/10.1186/s12889-020-8318-4
    34. T. M. Galanti and N. Holincheck, “Beyond content and curriculum in elementary classrooms: conceptualizing the cultivation of integrated STEM teacher identity,” Int. J. STEM Educ., vol. 9, no. 1, 2022, doi: 10.1186/s40594-022-00358-8. DOI: https://doi.org/10.1186/s40594-022-00358-8
    35. K. McChesney and J. Cross, “How school culture affects teachers’ classroom implementation of learning from professional development,” Learn. Environ. Res., vol. 26, no. 3, pp. 785–801, 2023, doi: 10.1007/s10984-023-09454-0. DOI: https://doi.org/10.1007/s10984-023-09454-0
    36. A. Moghaddaszadeh and A. N. Belcastr, “Guided active play promotes physical activity and improves fundamental motor skills for school-aged children,” J. Sport. Sci. Med., vol. 20, no. 1, pp. 86–93, 2021, doi: 10.52082/jssm.2021.86. DOI: https://doi.org/10.52082/jssm.2021.86
    37. F. J. Mesas-Carrascosa, F. P. Porras, P. Triviño-Tarradas, J. E. M. de Larriva, and A. García-Ferrer, “Project-based learning applied to unmanned aerial systems and remote sensing,” Remote Sens., vol. 11, no. 20, 2019, doi: 10.3390/rs11202413. DOI: https://doi.org/10.3390/rs11202413
    38. P. Simonova, J. Cincera, R. Kroufek, S. Krepelkova, and A. Hadjichambis, “Active citizens: Evaluation of a community-based education program,” Sustain., vol. 11, no. 3, pp. 1–10, 2019, doi: 10.3390/su11030663. DOI: https://doi.org/10.3390/su11030663
    39. L. Zhou et al., “A school-family blended multi-component physical activity program for fundamental motor skills promotion program for obese children (FMSPPOC): Protocol for a cluster randomized controlled trial,” BMC Public Health, vol. 23, no. 1, pp. 1–19, 2023, doi: 10.1186/s12889-023-15210-z. DOI: https://doi.org/10.1186/s12889-023-15210-z
    40. C. T. Hsin and H. K. Wu, “Implementing a Project-Based learning module in urban and indigenous areas to promote young children’s scientific practices,” Res. Sci. Educ., vol. 53, no. 1, pp. 37–57, 2023, doi: 10.1007/s11165-022-10043-z. DOI: https://doi.org/10.1007/s11165-022-10043-z
    41. S. M. Suleman, M. Trianto, and S. Zainal, “Diversity of insect visitors to oil palm flowers in smallholder plantations as a potential resource for environment based learning in education”, Jor. Eva. Edu, vol. 6, no. 3, pp. 937-946, 2025, doi: 10.37251/jee.v6i3.1737. DOI: https://doi.org/10.37251/jee.v6i3.1737
    42. A. Rizali, B. T. Rahardjo, S. Karindah, F. R. Wahyuningtyas, B. Sahari, and Y. Clough, “Communities of oil palm flower-visiting insects: investigating the covariation of Elaeidobius kamerunicus and other dominant species,” PeerJ, vol. 7, p. e7464, Aug. 2019, doi: 10.7717/peerj.7464. DOI: https://doi.org/10.7717/peerj.7464
    43. A. Kusumorini, N. A. Rahmah, and I. Kinasih, “Identification of insects visitors to oil palm flowers in the community plantation of Kalicinta Village, North Kotabumi District, North Lampung Regency,” in Proc. 12th Int. Conf. Green Technol. (ICGT 2022), May 2023, pp. 239–254, doi: 10.2991/aer.k.230509.037. DOI: https://doi.org/10.2991/978-94-6463-148-7_25
    44. M. F. Harianja, J. Stone, W. Z. Mamat, M. A. Hadi, S. H. Luke, B. Azhar, and E. C. Turner, “How do management decisions impact butterfly assemblages in smallholding oil palm plantations in Peninsular Malaysia?,” J. Appl. Ecol., vol. 61, no. 4, pp. 759–772, 2024, doi: 10.1111/1365-2664.14456. DOI: https://doi.org/10.1111/1365-2664.14615
    45. S. Rosalia, Y. Yonariza, and M. Syahrawati, “Effect of farmer’s behavior in cocoa management on insect diversity in Salayo Cocoa Plantation, West Sumatra, Indonesia,” Biodiversitas J. Biol. Divers., vol. 23, no. 10, pp. 1–10, 2022, doi: 10.13057/biodiv/d231001. DOI: https://doi.org/10.13057/biodiv/d231013
    46. W. A. Foster, J. L. Snaddon, E. C. Turner, T. M. Fayle, T. D. Cockerill, M. F. Ellwood, and K. M. Yusah, "Establishing the evidence base for maintaining biodiversity and ecosystem function in the oil palm landscapes of South East Asia," Philos. Trans. R. Soc. B Biol. Sci., vol. 366, no. 1582, pp. 3277–3291, 2011, 10.1098/rstb.2011.0041. DOI: https://doi.org/10.1098/rstb.2011.0041
    47. K. Li, T. Tscharntke, B. Saintes, D. Buchori, and I. Grass, “Critical factors limiting pollination success in oil palm: A systematic review,” Agric. Ecosyst. Environ., vol. 280, pp. 152–160, 2019, 10.1016/j.agee.2019.04.012. DOI: https://doi.org/10.1016/j.agee.2019.05.001
    48. R. G. Boakye, R. Combey, B. White, and D. A. Stanley, “Relationships between flower-visiting insects and forest cover in cocoa-growing landscapes in Ghana,” Landsc. Ecol., vol. 39, no. 12, pp. 199, 2024, 10.1007/s10980-024-01678-9. DOI: https://doi.org/10.1007/s10980-024-02003-x
    49. S. Tarigan, D. Buchori, I. Z. Siregar, A. Azhar, A. Ullyta, A. Tjoa, and N. Edy, “Agroforestry inside oil palm plantation for enhancing biodiversity-based ecosystem functions,” in IOP Conf. Ser. Earth Environ. Sci., vol. 694, no. 1, p. 012058, 2021, doi: 10.1088/1755-1315/694/1/012058. DOI: https://doi.org/10.1088/1755-1315/694/1/012058
    50. M. R. Maulana, T. Sukitman, and Y. P. Astuti, “The influence of traditional engklek games on improving interrogative sentence writing skills in elementary school students: An experimental study”, Jor. Eva. Edu, vol. 6, no. 2, pp. 571-581, 2025, doi: 10.37251/jee.v6i2.1650. DOI: https://doi.org/10.37251/jee.v6i2.1650