What are the most effective ways to use education to reduce poverty?

Investing in education and training is a smart investment to increase productivity, spur economic growth, advance knowledge-based economic growth and promote inclusive growth. Without investing adequately in education, nations simply cannot prosper and there is adequate global evidence on this. A great service that economists can render is to help showcase the economic returns from investing in education and skills in addition to amplifying the discourse on long term social returns.

There are many research papers that assess the relevance of good education for contributing to reach both personal goals and the society's ones. A key aspect of education, often overlooked, is related to financial education. Even in high income countries, a large proportion of the inhabitants are not able to effectively handle basic financial budgeting. It is perhaps the time to introduce these concepts, such as savings, how to manage and investing them, (simple and compound) interest rates, to students much earlier in time than what occurs now. This is especially relevant for low-income countries, where the years of education are much more limited. Financial education courses could also involve families to have a long-lasting impact.

To focus on my area of personal finance, education is terribly inadequate in the UK at this time. There is a vast output of off-putting, hysterical and irrelevant financial noise in the media. There are some simple guiding principles that are available to all: 1. Spend less than you earn; 2. Avoid debt, of any kind; and 3. Save and invest as much as you can afford. Is it really that simple? Yes & No. A proper deep understanding of compounding ie. the power of the compound interest formula is essential. Discussion of family budgeting and managing day to day expenses is important. Education about what is a necessity and what is discretionary spending would help. Lessons that distinguish investing and speculating would help improve outcomes.

Education should be more job oriented else it wouldn't to be able to eradicate poverty.. just mugging up concepts wouldn't help. In my opinion we should have such an educational bodies who creats job ..

Governments should provide safety nets for the poor to success education. There should be coordinated education initiatives with social safety nets, such as conditional cash transfer programs, to address immediate poverty-related issues while simultaneously investing in education. Ghana is at the forefront of this where basic education right to senior high school are free for all. This is to ensure all regardless of social class are able to access education.

I would argue, that educational challenges are not restricted to low- and middle- income countries. Even in high income countries there are countless examples of public schools of low quality. Even in high income countries families below the middle class often can't afford private education of their children. In most cases these countries are defining the education policies in a way that there is no possibility to choose which primary school the child will attend.

An example I have seen is the Participatory approach to education. Beneficiaries should walk the talk when the skills are imparted in them, that means having access to the right knowledge, materials, skills and access to opportunities. Stakeholders should be highly engaged in the formulation of policies and programs than them being merely beneficiaries. Whether. Technology advancements have also caused a significant gap in the education systems with most of the low-middle income countries bearing the most effects.

Now the question is what's the way forward. i would suggest that the importance of education should be made a public priority in other for the public to engage in the movement, If this is archived utilities would be put in place to help deal with the current challenges.

Invest in early childhood education programs, such as preschool and kindergarten, to provide children with a strong foundation for future learning. Early education can help narrow the achievement gap and improve long-term outcomes.

We need to invest in our early childhood education by providing the needed infrastructure and materials. Again, our courses/subjects should be more current by focusing it on solving problems in the society but not just theoritical base. The subjects should be well tailored to help solve issues in our society.

I have witnessed first-hand how community-led free non-formal literacy education program post COVID era provided immerse support to children and their families in few communities in Ghana. While COVID's impacts hit hard on education and the livelihood of families, children returning back to school became a hurdle. This initiative provided an interim education support for children who could not return to school immediately and enabled smooth transition of learners into formal school system. Exploring the immerse benefits and the low-cost strategy this system employs, it could be replicated in cut-off communities across Ghana.

Skills training with financial and digital literacy embedded, is a powerful solution that can advance the impacts education can have on population

4 Dimensional Education needed to reduce poverty 1) Academic Literacy: Basic education when one can read & write in one of the local or national languages. 2) Skill Literacy: Though someone has not finish the schooling, one can be trained for many skill based jobs which helping them to do some contract based works. (in India this been successful) 3) Financial Literacy: This is lacking in most of the individuals irrespective of level of education. Managing money needs to be taught across ages and profession including underprivilege population. (Indian government has taken various steps for banking, insurance & pension) 4) Digital Literacy: Getting financially digitalised can also be useful. (India is the leader in using digital transections)

A proper personal finance curriculum should be prioritised (mandated?) for any school leaver, irrespective of age when they leave.

A good public education system is one of the most basic foundations for solving poverty irrespective of the income levels of a country. It is already a well known fact that enough investments in the education system can elevate people's financial conditions. However, to ensure that there's enough investments in education while keeping in mind that it's affordable too, education needs to be a public good across countries and it needs to be heavily funded and supported by the government. Otherwise, if left at the hands of private players, it will be a vicious cycle of people unable to afford education and thereby still remaining poor and in turn people being poor making them unable to afford education.

Make sure no child is left behind especially girls. A country whose population lacks education basis in education is mentally economically socially poor and can't compete with other nations. Education is the key factor to any success and development. In my personal experience I value girls education than anything that gives a country a visibility. The more girls are educated the more development follows.