Education News – Raymond Scott
“LendEdu, an online marketplace created to offer student loan borrowers insight into their personal finances and loans without damaging their credit, has released its 2016 College Students and Personal Finance Study — and the results show a high degree of financial uncertainty among college students. The study surveyed current college students on basic personal finance knowledge and tried to gain insight into how they are managing money…In its introduction, the survey acknowledges a general lack of financial literacy in the United Sates. Currently, only 17 states require high school students to take a class in personal finances. Unsurprisingly, the results exhibited students “lacking basic knowledge and confidence” on financial matters…The report makes clear the urgent need for financial literacy coursework…Largely, students are not pulling in high incomes. 27% of students reported that they do not have a source of income, while another 40% of students were working part-time or had an on-campus job. The fact that students are not making much money adds greater emphasis to the need for financial literacy. Students must learn how to make the most of limited funds.”(more)