MIAMI–With the new academic year underway in many places, a majority of college students are saying they are already feeling financial stresses.
WalletHub is reporting its 2024 College Student Financial Survey has found:
- Student Financial Stress: Seven in 10 college students feel overwhelmed by their financial responsibilities.
- Loan Borrowing Regrets: 61% of college students regret how much they borrowed with student loans.
- No Debt Repayment Plan: One in five college students don’t have a plan for paying off their student debt after college.
- Poor Financial Grades: More than one in four college students would give their personal finances a grade of "C" or worse.
- Eager to Learn: 85% of college students would take a course in personal finance if it were available and they got credit toward their degree.
Best Products Named
In releasing its findings, WalletHub said its analysis found:
- Best Credit Card for Students: The Capital One SavorOne Student Cash Rewards card offers 1% - 8% cash back on purchases, an initial bonus of $50 for spending $100 in the first three months, and no annual fee.
- Best Checking Account for Students: The SoFi Student Checking and Savings Account doesn't charge overdraft fees or monthly fees and has no minimum deposit requirement.