Homework’s Influence on Future Financial Success in the Age of ChatGPT

ABSTRACT

This research study investigates the question of whether completing homework assignments has a direct or indirect impact on future financial success. This is an important question for policymakers, parents, and educators invested in adults’ financial security and the negative impact Artificial Intelligence may have on learning. Understanding the role that homework plays matters because homework is actionable, observable, and beneficial for building productive skills and self-confidence for future achievement. Using data from the 2017 Cornell National Social Survey and the 2015 update of the 1997 National Longitudinal Survey of Youth, we find that homework completion is directly related to future net worth and home ownership. Further analysis shows a strong association between homework completion and educational attainment, which in turn enhances human capital, thereby contributing to future earnings. In a world where students increasingly use ChatGPT for completing homework, and early evidence suggests such tools decrease learning, it is especially important to encourage and support students to take an active role and extend the effort to fully complete their homework assignments on their own if they seek financial security as adults.