Recently, iontuition conducted a survey that examined financial literacy programs across more than 50 different colleges in the United States. The findings from the 2016 Financial Literacy Trends on Campus Report provide financial aid professionals a comprehensive look at the current state of financial literacy programs so they can continue to develop innovative methods for helping students become more financially savvy.
Financial literacy is a priority but improvement is needed
Although 85 percent of respondents agree that financial literacy is a priority at their school, more than half agreed their program could use improvement.
Student engagement ranked as most pressing challenge
Results show that financial aid professionals are having a difficult time engaging with students in school and post-graduation.
Students are not financially literate
Although the majority (71 percent) of respondents believe that they have an effective program, less than half think their students are knowledgeable about basic financial concepts.
Key statistics are reflected in the infographic below.