Attending college can be exciting but also at times scary, especially when you consider that most students aren’t taught much about personal finance. Students’ fears have only been intensified recently by soaring inflation and other economic troubles, which threaten to make higher education less affordable. Many students also still have yet to recover from the impact of the COVID-19 pandemic.
In order to learn more about college students’ thoughts about finance and education during these difficult times, WalletHub conducted a nationally representative survey, which found that 93% of students are concerned about the economy. The survey asked about everything from how important a college education is during the pandemic to what financial lessons students have learned. You can find the complete results in the infographic below, along with additional insight from a panel of experts.
- 93% of students are concerned about the economy.
- The number one post-graduation fear among students is not finding a job (36%), followed by student loan debt (30%).
- 20% of students think that a college education is less important due to the COVID-19 pandemic.
- 52% of students say their school is not doing enough to educate them about personal finance.
- Having emergency savings (44%) is the most important financial lesson students have learned from the pandemic, followed by not going into debt (23%) and having a steady job (22%).
Ask the Experts
- WalletHub’s survey found that 93% of students are concerned about the economy. What do you think are the main factors that cause such an overwhelming majority to worry at the moment?
- Why do you think around 1 in 5 students believe college is less important due to the pandemic?
- Around 44% of students say the biggest lesson they’ve learned during the pandemic is that they should have emergency savings. What other things should students keep in mind to overcome periods of financial difficulty?
- What advice do you have for the 36% of students who say their biggest post-graduation fear is not finding a job?
- 52% of students say their school is not doing enough to teach them about personal finance. What measures should schools take in order to offer a more adequate personal finance education?