New survey shows financial stress among college students

(TND) — According to a survey released last week by WalletHub, the majority of college students find money matters to be very stressful.

The personal finance website surveyed college students and found that 70% feel overwhelmed by their financial obligations.

About 60% of college students said they regret the amount of their student loans.

One-fifth of students have no plan for how they plan to repay their student debt after college.

And more than a quarter of students would give their personal finances a grade of “C” or worse.

The results were not all bad. 41% of respondents gave their personal finances a grade of “A”.

But college students depend on mom and dad.

More than half said their parents help them pay their credit card bills.

Colleges are not doing a good enough job of teaching financial literacy, Odysseas Papadimitriou, founder and CEO of WalletHub, previously told The National Desk.

Financial education is “such a big issue,” he said in the previous interview. From an educational perspective, however, there is a discrepancy.

“What surprises me is that … we have some of the best universities, colleges and educational institutions in the world, and overall they still haven't understood the importance of teaching people how to manage money properly and how to use money properly,” Papadimitriou said.

Stephan Weiler, an economist at Colorado State University, also said earlier that he was “sometimes amazed” at how little sense of finance some of his very intelligent students had.

And he said universities share some of the blame.

Students take out loans to take courses and they need to be equipped with a better understanding of finances, Weiler said

A simple, one-semester course on personal finance would go a long way, he said.