Research
Financial Inclusion

Promoting Students’ Financial Responsibility through SILC and Financial Education: Report from the 2024 School Year in El Salvador, Guatemala, and Honduras

Published by
Anne Angsten Clark, Olawale Awoyemi, Medan Ampeni, John M. Oliver, Rashidat Mohammed, Dibal Sanya, Idrisa Buba Umoru, Rhoda Ezekeil
2025
Catholic Relief Services
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This report examines the impact of Classroom Savings and Internal Lending Communities (SILC) and financial education programs in schools across El Salvador, Guatemala, and Honduras. The findings highlight how these initiatives help students build financial skills, improve academically, and engage families.

Key Takeaways

  • SILC participation encouraged students to save regularly, set financial goals, and share savings habits with family members.
  • Students developed leadership, teamwork, and responsibility through active roles in SILC groups.
  • Academic performance improved, especially in math and language, and students were more motivated to stay in school.
  • Parents supported their children’s participation and noticed increased involvement in household financial decisions.
  • Financial education lessons reinforced skills like goal-setting, saving, and budgeting.
  • Overall, SILC and financial education fostered lifelong financial responsibility, leadership, and family engagement among students.

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