Clemson University Tackles Millennials' Financial Literacy Issues
August 13, 2016
Clemson -- Clemson University is tackling the financial literacy issues of the college-age generation with a new course this fall.
The College of Business is offering Personal Finance-2010 to address what "surveys have identified as a deficiency in the 18-34 age groups, which numbers 80 million members nationwide."
“Though well-educated, this generational group is often engaged in problematic financial behaviors and it’s exacerbated by the debt they’re amassing in preparing for careers,” said Josh Harris, course instructor and a lecturer in Clemson’s finance department.
“For a variety of reasons, millennials do not have the basic financial skills that their Baby Boomer parents had at their age. When you look at the school debt they’re taking on and the fact they will be the wealthiest generation ever 10 to 15 years from now, it’s critically important to them — and for the country’s economic health — to be on a path leading toward financial security,” Harris said.
South Carolina Treasurer Curtis M. Loftis Jr. thinks the class is a great idea. "Financial literacy is important at any age," he said. "It can mean the difference between a good life and a life."
Clemson’s course will teach the basics of financial goals, including budgeting, and provide a broad overview of credit, including credit cards’ interest rates.
The course was open to registration and the school says a lot of students have signed up, ranging from sophomores to seniors. Finance department leaders anticipate there upwards of 300 students enrolling in the online course.