Why Financial Literacy?

Why Financial Literacy?

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  • Ben Bernanke | Chairman Federal Reserve Board of Governor's 2010
    "One of the key lessons of the recent financial crisis is the importance of financial literacy."
  • Bernheim, Garrett, and Maki | 2001
    "Financial literacy-"The Earlier The Better."
  • Teenage Research Unlimited | 2010
    "Teens surveyed reported spending 97% of their money instead of saving it."
  • Charles Schwab Teens and Money Survey | 2007
    "Only 1/3 Teens knows how to read a bank statement, balance a checkbook and pay bills. Barely one in five had an idea how to invest."
  • John Simpson | Indiana University Administrator, Congressional Record - House March 28, 2001
    "University administrators state that they lose more students to credit card debt than to academic failure."
  • Sallie Mae Survey January | 2007
    "More than half of college students accumulated more than $5,000 in credit card debt while in college.".
  • Kiplinger’s Letter | Dec. 2, 2011
    "The average student graduates with $27,000 in student loan debt. It will take years longer for them than for grads a decade ago to acquire the means to buy a home or start a businesses."
  • Drexel University | 2011
    "53.6% of 2011 college graduates under the age of 25 are underemployed."


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