Research

The primary focus of the CSU project is research. The project is designed as an intensive research apprenticeship for minority student scientists. Additionally, the project will be based on include the intensive research professional development activity for the student scientists, while the research project is designed to collect data from low-income and minority communities as it relates to financial literacy and financial decision-making interventions, analyze, build models, make recommendations. However, in the first year working with existing data to do the same would be more realistic and pedagogically sound. Specifically, the first year would be spent on doing:

  • a comprehensive literature review;
  • identify regional data sources;
  • analyze and evaluate the existing methodologies utilized by previous studies;
  • conduct preliminary regression analysis, evaluate current or build new mathematical models using the existing data for the south side;
  • present the preliminary findings and models;
  • construct Survey Questionnaires and identify ways through which SQ could be distributed, completed, and collected;
  • investigate the associated costs and time required for SQ completion.

Every attempt will be made to tailor content and format to accommodate specific student interest prior to designing their research experiences. Therefore, well-planned activities will be scheduled for fellows in order that they develop the knowledge, understandings and skills necessary. The regular activities during the induction year include orientation, professional development, and research design, preparing the IRB application, analyzing and interpreting results, and other literacy applicable to the project. Upon notification of the award, the project director will meet with the faculty research mentors to begin planning the research exercises.

Research Workgroups

Fellows will be assigned to one of three interdisciplinary research workgroups of 2-3 students per team. Fellows will have access to all mentors, but to have more accountability of mentors, each group will be assigned to a single faculty mentor as a principle mentor of the group. CSU has identified three areas of inquiry as they relate to the Absolute Priority and each group will undertake a single area of focus:

  • Group I will design a research program to analyze/collect data on the impact, scope and duration of behavioral change among minority groups who have participated in financial literacy interventions.
  • Group II will design a research program to analyze/collect data that focuses on demographics and wealth disparities among retiring low income and minority groups.
  • Group III will be trained to analyze the findings from Group I and Group II in order to develop mathematical models on retirement security and financial literacy for low income and minority communities.

CSU has planned a substantial addition to an ongoing line of inquiry with the establishment of the Center for Minority Retirement and Financial Literacy Studies as a major component of this grant. Additional information about the proposed Center is included in the following sections under the Quality of the Project Design.

The research implies that multiple models and methodologies will be applied in the research. In most cases standard empirical data will be collected via surveys and focus groups or bought from existing databases; whenever feasible case studies will be utilize wherever is able to partner with service organizations that are focused on this research in the Chicago area. All of the research will be interdisciplinary as there are many elements financial, behavioral, and social which impede minorities from acquiring wealth. The project is designed based on a review and mastery of the relevant literature, however, the wealth of information is standardized toward majority populations conducted by researchers who may not have had the mindset of minorities; hence, the need for additional viewpoints and fostering the growth of minority researchers. To ensure that the proposed development efforts include adequate quality controls and, as appropriate, repeated testing of products, ongoing assessment will be an ongoing process.

The proposed project is acutely focused on the priorities established for the competition as the primary focus is on the training of underrepresented student populations at a PBI that serves a high number of low income students as well. The project will encourage consumer involvement by engaging community residents in the research program and by disseminating project results in an open environment. following sections under the Quality of the Project Design.

The research implies that multiple models and methodologies will be applied in the research. In most cases standard empirical data will be collected via surveys and focus groups or bought from existing databases; whenever feasible case studies will be utilize wherever is able to partner with service organizations that are focused on this research in the Chicago area. All of the research will be interdisciplinary as there are many elements financial, behavioral, and social which impede minorities from acquiring wealth. The project is designed based on a review and mastery of the relevant literature, however, the wealth of information is standardized toward majority populations conducted by researchers who may not have had the mindset of minorities; hence, the need for additional viewpoints and fostering the growth of minority researchers. To ensure that the proposed development efforts include adequate quality controls and, as appropriate, repeated testing of products, ongoing assessment will be an ongoing process.

The proposed project is acutely focused on the priorities established for the competition as the primary focus is on the training of underrepresented student populations at a PBI that serves a high number of low income students as well. The project will encourage consumer involvement by engaging community residents in the research program and by disseminating project results in an open environment.