USF to battle financial illiteracy

- It's a younger generation that's diverse and highly educated.  But when it comes to money matters, they could apparently use some advice.

A study conducted by PricewaterhouseCoopers and George Washington University found only 24 percent of millennials demonstrated basic financial knowledge. And many of them are facing record student debt.

"Some of these students are using these loans to go on vacations, to buy homes, or to buy cars," explained Professor Laura Mattia, who was a personal financial planner before coming to the University of South Florida.

Some high schools also recognize the need.  A bill in the legislature would require Florida high school students to take a class in personal financial management, which is already a requirement in 22 states.

Meanwhile, USF is introducing a new degree program to train personal financial planners. Mattia, who will lead the program, says hundreds of personal financial planners have retired, and graduates will have many job opportunities.

"There are jobs, there are well-paying jobs, they're satisfying jobs because you're making a difference in people's lives,"

The new major will be introduced this August.

Up Next:


Up Next

  • USF to battle financial illiteracy
  • Ram trucks recalled to fix problem with gear shifters
  • Euthanasia drug found in dog food, already blamed for one doggie death
  • New Walmart app lets you shop without checking out
  • KFC unveils scratch 'n' sniff valentines that smell like chicken
  • Propose at Panera on Valentine's Day and they may cater your wedding
  • Equifax hack put more info at risk than consumers knew
  • Gas-hedging website MyGallons.com is ending
  • Air bag danger: Ford, Mazda add pickups to do-not-drive list
  • Cadbury hiring chocolate taste testers