Financial Literacy Challenges for College Students

Graduates in caps and gowns throwing caps in front of University of Higher Earning tower decorated with coins

Attending college is exciting, but it can also be scary at times, especially since most students aren’t taught much about personal finance. Students must contend not only with doubts about finding a job that will allow them to earn a living wage after graduation but also with concerns about affording student loan payments and making limited funds last despite even more limited money-management skills.

To learn more about college students’ attitudes toward money, WalletHub conducted a nationally representative survey asking students about everything from how social media has affected their spending to how well their schools are educating them about personal finance. You can find the complete results in the infographic below.

Key Stats

  • Questioning Tuition Value: More than 1 in 4 students think their tuition is not a good investment.
  • Lack of Financial Education: 52% of students think their school is not doing enough to make them financially literate.
  • Subsidizing Overpriced Tuition: 1 in 3 students think the federal government should not provide loans for people attending schools with expensive tuition.
  • Social Media Pressure: 53% of students say they feel pressured by social media to spend beyond their means.