Racial Differences in Financial Literacy Among Prisoners in Arkansas’ Correctional Institutions

By Dr. Timothy Brown (Lead – UALR Department of Criminal Justice)
Dr. Ken Galchus (UALR Department of Economics and Finance) and Dr. Andy Terry (UALR Department of Economics and Finance)

This research project is a collaborative effort between members of the Departments of Criminal Justice and Economics and Finance. It evolved from work that Dr. Galchus has done in providing financial literacy workshops for prisoners soon to be released from the Department of Community Corrections facility in Little Rock. The study will focus on the differences in in the levels of financial literacy between white and African-American prisoners to determine where more attention should be concentrated to assist inmates with transitioning into society with requisite knowledge and skills in the area of financial literacy. The ultimate goal is to reduce the recidivism rates, and consequently crime.

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