Student Feedback on the Financial Awareness E-Learning Course of OTP Fáy Foundation at Budapest University of Economics and Business. Experiences from the First Three Semesters

Abstract

This study examined the opportunities for enhancing financial literacy in higher education through the university adaptation of the Financial Literacy Program by OTP Fáy Foundation. The e-learning course Conscious Planning: Practical Money Management offered at Budapest University of Economics and Business aimed to improve students’ financial awareness using interactive learning materials and a flexible learning environment. The study was based on data collected over three consecutive semesters, involving 154 participating students. The study explored participants’ financial goals, their motivations for completing the course, and the relevance of various topics (e.g., savings, loans, risk management). The results of the self-reported questionnaire study confirmed a significant improvement in students’ financial literacy, particularly in areas such as loans, savings, and risk management, where students reported limited prior knowledge. The technical and content elements of the course received positive feedback, especially regarding the SCORM interactive modules and the seamless integration into the university’s learning management system. However, the analysis also highlighted areas for improvement, including simplifying course content and incorporating additional interactive elements. The findings contribute to enhancing the effectiveness of e-learning-based financial education and promoting sustainable financial literacy development among higher education students.