College students have money problems. The statistics are overwhelming. One in every three college students graduate with more than $10,000 in credit card debt. In fact, credit card debt is one of the main reasons students are dropping out of college.
Sixty percent of first-year students max out their credit cards within the first year. By the time they leave college, they owe an average of $20,000 in student loan debt—without even factoring in higher rate private loans. With all of this debt, more and more students choose to simply drop out of school, leaving campus with a little education and a lot of loans.
What if your college spent a little more time trying to keep the students you work so hard to recruit? By helping them win with money, you can do just that.
Dave Ramsey, the nation’s leading expert in personal finance, has developed a program specifically geared toward college students. Foundations for Life and Money is a four-chapter study that teaches about saving, debt, budgeting and career and college planning.
This isn’t some boring and complex economics class. Foundations for Life and Money helps students change their attitudes and behaviors on money and debt, giving them the financial skills they need to succeed now and in the future.
Don’t wait until it’s too late. Help your college students help themselves today, and you’ll develop a campus full of grateful alumni for tomorrow.
Learn how Foundations for Life and Money can have an impact on your campus.
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statistics
Drop-Out Rate
University administrators say they lose more students to credit card debt than to academic failure.
"The Case for Economic Education," Junior Achievement, August 2004
Financial Education
84% of undergraduates indicate they need more financial management education.
"How Undergraduates use Credit Cards," Sallie Mae, 2009
Student Credit Card Debt
Up to one in three college students graduate with over $10,000 in credit card debt, in addition to
student loans.
"Be Debt Smart" Survey, Sallie Mae, 2007
Student Loan Debt
The average student loan debt has now surpassed $20,000 for an undergraduate degree—a
figure that excludes popular “private” loans that may have much higher interest rates.
U.S. Department of Education National Center for Educational Statistics, 2007