Are you smarter about credit than a typical 20-year-old?

first_imgIt’s tempting to write off college students as a financially inept bunch barreling towards a debt sinkhole and with personal bankruptcy on the horizon. Yet the vast majority pay their bills on time and most never spend more than they have, among other positive money behaviors, new research shows.Student loan giant Sallie Mae with research firm Ipsos interviewed college students in December and found that 77% pay their bills in a timely way while 60% always spend within their means and 55% manage to save money every month. Many students want to do even better: 83% say they would like to learn more about specific aspects of money management.These findings soften the common narrative of Millennials—the most educated generation in history—running up debts and living largely oblivious to the damage. That narrative is not without some justification. In surveys, Millennials can’t answer three basic money questions and college freshman get a D in financial literacy. They’ve also racked up $1.4 trillion in student loans. But at least some seem to be paying attention. continue reading » 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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