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Test Slidshare Test Slidshare Presentation Transcript

  • The State of Financial Literacy in America
    • Students entering college are offered an average of eight credit cards during their first week of school.
  • ABA Education Foundation
    • In 2001, more young adults filed for bankruptcy than graduated from college
  • Collegiate Funding Services
    • Students completing a graduate or professional program have an average student loan debt of $23,000
  • The State of Financial Literacy in America
    • Only 21% of students age 16 to 22 say they have taken a personal finance course through school
  • The State of Financial Literacy in America
    • Only 26% of students age 13 to 21 reported their parents actively taught them how to manage money
  • Census Bureau
    • More than 40% of American households have less than $1,000 in liquid, non-retirement savings accounts
  • Nellie Mae
    • 1 in 10 undergrads owes more than $7,000 in credit card debts
  • Nellie Mae
    • The average undergraduate student loan debt in 2003 was $18,900
  • USA Today
    • Last year the credit card industry took in $43 billion in fee income,
    • up from $39 billion in 2002
  • USA Today
    • Last year, credit card fees accounted for 35% of industry income, up from 18% six years ago.
  • Making the Case for Financial Literacy
    • As little as 10 hours of personal financial education positively affects students’ spending and savings habits.
  • Stressfreenetworking.org
    • The average American household has less than $100 per month of discretionary disposable income
  • ABA Education Foundation
    • The U.S. has the lowest personal savings rate of any major industrialized nation
  • Bureau of Economic Analysis
    • During World War II, Americans were saving more than 24 percent.
    • By July 2005, personal savings had dropped to 0 percent
  • Employee Benefit Research Institute
    • In a 2005 study,
    • 52 percent of workers had retirement savings of less than $25,000,13 percent had saved $25,000 to $50,000, far below their need.