NFEC Promotes Mandatory Financial Education for College Students

The Student Monitor recently released a study showing that 65% of today’s college graduates will leave school under student debt loads averaging $27,236. The impact on those young adults’ lives could be staggering. If these graduates are unable to land career positions, they’ll be forced to move back in with parents, whose budgets may be broken by the added expense of supporting an unemployed adult child. But what can be done? The National Financial Educators Council is working to garner support for proposed legislation requiring mandatory financial education for college students before they can enter into a student loan.

Who is the NFEC? This team of financial experts with a passion for helping others has become an institute of financial education. Their stated mission is to create a world where everyone has the capacity to make qualified money decisions that improve their lives and the lives of their loved ones. The NFEC accomplishes this mission by providing complimentary workshops, training, and connection with funding sources to build money management skill among the world populace.

A decade ago the U.S. Department of the Treasury established the Financial Literacy and Education Commission under the auspices of its Office of Financial Education. This commission was charged with setting priorities for helping U.S. youth and adults gain key money skills to support financial literacy. An important piece of this priority agenda is building financial education systems like the well-recognized and complimentary programs available through the NFEC.

Currently the NFEC is working to gather support for legislative efforts to mandate financial education for college students who seek student loans. If these young people come to understand how a student debt burden can affect their future lives, the belief is that they will take greater responsibility for learning to manage their money wisely.