Being knowledgable about money management, budgeting and finance is no guarantee of success in life. But ignorance about such concepts often comes at great cost. When it comes to financial literacy, however, the U.S. gets a failing grade at least by one count. The U.S. ranked 14th in a 2015 global study conducted by Standard & Poor’s Ratings Group and others, with a financial literacy rate of 57%. One solution would be to have colleges require students to take a personal-finance course. Would that help? Two experts weigh in.
This paper examines the relationship between student loans and retirement saving behavior by 30-year-old workers.
Amid concern that rising student loan debt has social and economic consequences for young adults, many suggest that student loan debt is leading young adults to forgo home buying.