Clemson course tackles financial illiteracy

Millenials are better educated and more economically active than their generational predecessors, but an identified shortcoming of this college-age generation is the target of a new course this fall at Clemson University.  The College of Business is offering Personal Finance-2010 to address what surveys have identified as a deficiency in the 18-34 age group.  National studies have shown alarming signs of financial illiteracy among that generation.   PricewaterhouseCoopers study indicated 30 percent of the generation has overdrawn checking accounts and more than 40 percent are engaged in risky financial behavior, such as selling valuables at pawnshops and taking out auto title and payday loans.  Course instructor Josh Harris says the average Clemson graduate has accumulated $30 thousand to $37 thousand dollars in student loan debt.  To pay off that debt in 10 years, the average monthly payment would be in the $300 to $500 dollar range.