After taking a personal finance education course, 90% of students change their spending habits, according to a new survey by USA Funds. USA Funds teaches life skills courses online and surveyed 1,522 college students who took the course.
Students who indicated they’d made personal and financial changes after taking the course averaged 10 behavioral changes. The most common changes were considering needs vs. wants and spending less on wants; establishing educational, financial, or career goals; understanding the requirements for completing their degree or program; spending more time on activities that help achieve educational, financial, and career goals; and using new or different strategies to manage stress. Additionally, 93.7% of recent course takers said they planned to make personal or financial changes.
For the nearly 85,000 students who took an online course through USA Funds last year, the average score on post-lesson quizzes and assessments was 87.7 out of 100.
USA Funds teaches 34 online courses in topics including financial aid and paying for college, time management, credit management, preparing for life after college, personal finance for graduate and professional students, and personal finance for married and medical students.
USA Funds Life Skills courses are among several online financial literacy programs, but one of few geared specifically toward college students. Many colleges also conduct financial literacy courses either as part of a first-year curriculum or through a financial services center.
Follow Anna Schumann on Twitter @ASchumannCMN.
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