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It's nearly time to toss mortarboards high in celebration of graduates. For these students, college was a time that they started using credit. But how would they rank their preparedness and real understanding of the world of credit and personal finance? See who got a passing grade — and who didn't — according to recent findings from a survey conducted by Experian.
Survey highlights include:
- 40 percent of those surveyed rate their current financial security as poor or fair, and only 16 percent of soon-to-be graduates already have a post-graduate job lined up
- 68 percent have needed the support of a recent cosigner, but 53 percent feel that being debt-free is an attainable goal in today's economy
- One in five gives their college an F grade on preparing them to understand how credit works
As low as many millennials' credit scores are, it's not surprising they're feeling let down by the preparation they've encountered so far. However it doesn't dampen their hopes and projections for future earnings and financial stability.
Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer or other company, and have not been reviewed, approved or otherwise endorsed by any of these entities. All information, including rates and fees, are accurate as of the date of publication.
This article was originally published on May 19, 2016, and has been updated.