We love team efforts and we love helping students—two reasons we’re excited to announce that FYC is sponsoring Ramsey Solutions’ new report, “Students and Money National Research Study,” that demonstrates the power of financial literacy.
Study: Students Are Wiser and More Confident With Financial Training
Ramsey Solutions, the premiere provider of financial curriculum, surveyed more than 76,000 high school students across the country for the report. Here’s what the report shows: When students are taught personal finance in the classroom, they are wiser and more confident in managing their funds.
For example, 94% of students who took a personal finance course now understand how student loans work, while those who didn’t take a course were twice as likely to say they did not understand. Those that took a course were also 23% less likely to use student loans to pay for college.
The report touches the heart of the reason for FYC and Ramsey Solutions’ new relationship. Both companies address the problem of out-of-control student loan debt—currently topping $1.3 trillion and afflicting 42 million students. Of those students, according to a recent survey by Consumer Reports
- 45% say college wasn’t worth the cost
- 44% cut back on living expenses
- 37% delay saving for retirement or other financial goals
- 28% delay buying a house
- 12% delay marriage
- 14% are forced to change careers
But not for future grads. Not if we can help it.
How FYC & Ramsey Solutions Help Students With Money
FYC was founded to help young students avoid such catastrophic debt, as well as answer the question—What do you want to be when you grow up? Ramsey Solutions was founded to help people take control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development. Together, FYC and Ramsey Solutions want to revolutionize the way young people manage their money and plan their futures.
“In an age filled with so much data about how to pick everything—what to buy, where to eat, how to get from here to there—it’s crazy that we don’t have a better way for students to pick colleges and careers,” said Rob Sentz, creator of FYC. “That’s why we created Find Your Calling. We’re really excited to work with Ramsey Solutions to help kids find careers that give them a strong sense of purpose.”
“If we give students the chance to learn these skills early in a safe environment like the classroom, we also give them the opportunity to avoid the mistakes many of us have made and set out on a path to a brighter, more secure financial future,” said Anthony ONeal, youth and money expert and speaker with Ramsey Solutions.