Shocking stats on student financial literacy—and why they matter

New data reveals students in the U.S. lack financial savvy; higher ed, economy should worry

financial-literacy-studentsEditor’s note: This story has been updated to reflect changes in data.

According to an upcoming report from Junior Achievement and PwC, nearly a quarter of today’s students believe that after they complete college their student loan debt will be forgiven. Yet, 41 percent default on their loans. There’s a financial literacy disconnect going on between reality and today’s students, but it’s not just worrisome for bank accounts—it’s affecting colleges, business and the global economy.

In the Organization for Economic Co-operation and Development’s (OECD) latest global assessment, more than 1 in 6 U.S. teens are unable to make even simple decisions about everyday spending, and only 1 in 10 can solve complex financial tasks.…Read More

U.S. college degree holders sliding among global competitors

President Obama has made it a priority for the U.S. to regain its position as the leading producer of college graduates by the year 2020 — a goal that is “within striking distance” according to Jim Hull, Senior Policy Analyst at the National School Boards Association’s Center for Public Education, the Huffington Post reports. For the U.S. to improve on its No. 5 world ranking in the number of 25- to 64-year-olds possessing some form of college degree, it must boost the number of two-year degree holders by instilling a national focus on enrollment and success in community colleges and trade schools, Hull says in his report, “Getting Back on Top: An International Comparison of College Attainment.” The data he analyzed are primarily from 2010 and are taken from the Organisation of Economic Co-operation and Development (OECD), Education at a Glance, released in September 2012…

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The 5 most educated countries in the world

The Organization of Economic Cooperation and Development recently released its Education at a Glance 2012 report, the Christian Science Monitor reports. The report examines OECD and G20 countries where the data was available. According to the report, which includes vocational training as part of higher education/post-secondary education, here are the five most educated countries in the world…

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