(TND) — The majority of college students feel high levels of stress over money matters, according to a WalletHub survey published last week.
The personal-finance website surveyed college students and found 70% feel overwhelmed by their financial responsibilities.
About 60% of college students said they regret how much they borrowed with student loans.
A fifth of students don’t have a plan for paying off their student debt after college.
And more than a quarter of students would give their personal finances a grade of “C” or worse.
The results weren’t all bad. A plurality of 41% gave their personal finances an “A” grade.
But college students are depending on mom and dad.
Over half said their parents help them pay their credit card bills.
Colleges aren’t doing a good enough job teaching financial literacy, WalletHub Founder and CEO Odysseas Papadimitriou previously told The National Desk.
Financial literacy is “such a big issue,” he said in the previous interview. But there’s a disconnect from an educational standpoint.
“What surprises me is that … we have some of the best universities and colleges and educational institutions in the world, and across the board, they’re still not getting the importance of teaching people how to properly handle money, how to properly think about money,” Papadimitriou said.
Colorado State University economist Stephan Weiler also previously said that he’s “occasionally astonished” at how little financial sense some of his very bright students have.
And he said colleges shoulder some of that blame.
Students are taking out loans to go to classes, and they need to be equipped with better financial understanding, Weiler said
A simple one-credit class on personal finances would go a long way, he said.
