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U.S. Treasury recommends mandatory financial literacy classes
June 24, 2019

From CNBC:

The U.S. Department of the Treasury released a new report on behalf of the Financial Literacy and Education Commission that recommends mandatory financial literacy courses for college students.

With the cost of college rising faster than incomes and a staggering 44 million Americans owing more than $1.5 trillion in student loans, there has been growing concern that students and their families are taking on debt without truly understanding the long-term impact.

Indeed, there is a lot of research exploring this national problem: Nine out of 10 parents and students failed a 2018 quiz about student loan debt. Meanwhile, MarketWatch reported that half of college students taking an AIG survey on personal finance basics got two or fewer questions correct. And in a recent survey from the Brookings Institution, less than 30% of student respondents could correctly answer three questions on inflation, interest and risk diversification.

Continue reading at CNBC...

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