Structural Inequality and the Efficacy of Financial Education
The analysis reveals that disparities in financial literacy are fundamentally tied to structural socioeconomic stratification, demonstrating that instructional interventions alone cannot resolve resource gaps without targeted structural support. As observed across development economics, the economic lives of low-income populations demand continuous decision-making under acute risk and absent safety nets, which fundamentally constrains long-term asset accumulation (Banerjee & Duflo, 2007). Within academic institutions, financial literacy initiatives fail to achieve equitable outcomes when postsecondary funding models and aid allocation mechanisms disproportionately benefit economically advantaged groups, thereby reproducing campus-level inequalities (Heller, 2001). In addition, policy research confirms that financial education programs generate asymmetrical benefits unless curricula are deliberately calibrated to the material conditions and real-world financial access of vulnerable learners (Aprea et al., 2021). For student populations in the Philippines facing pronounced economic inequality, this evidence illustrates that abstract financial knowledge cannot substitute for tangible institutional capital. Underprivileged students frequently lack access to formal credit instruments and emergency relief funds, rendering theoretical literacy insufficient for navigating sudden economic shocks. Therefore, bridging the financial capability gap requires synchronized policy designs that unite curricular delivery with progressive financial aid and institutional safety nets.