Achievement’ Teaching Teens To Manage Credit (NAPSA)—When it comes to choosing investments, it seems young Americans are willing to bank on their future success. A majority (61 percent) of teens asked said they would incur sub- stantial student-loan debt if it meant having their “dream job.” That might be one reason why the National Center for Education Statistics found that debt levels for graduating seniors with stu- dent loans have doubled, from approximately $9,000 to $19,000 over the past 10 years. But Jack E. Kosakowski, president of Achievement USA—the group that sponsored the Achievement/Allstate The majority of teens said they’d take on substantial student-loan debtto land their dream job. Fueling Debt The sting of higher gas prices Foundation poll—cautions that it’s important for young people to may be affecting teens as well. debt they incur. “Our programs help young peo- frequent item charged on their know how to handle the student More than two-thirds of respondents indicated that gas is the most ple understand the importance of credit cards. Clothing is the second most common card purchase. budgeting and the implications of taking on debt so they can make informed decisions,” he says. “We The Role of Family Nearly three-quarters of teens surveyed reported discussing how are committed to helping young to manage money wisely with become successful adults.” Here’s a look at some additional poll results: Cost Of Credit mentioned topic of discussion (75.6 percent), followed by “the importance of paying bills on people learn how to effectively manage their money so they Contributing to the debt load of four-year college graduates is the amount of credit card debt they carry. According to a 2007 study by Nellie Mae, the average outstanding balance on graduate student credit cards is $8,612, an increase of 10 percent from the 2003 average of $7,831. their families. “The importance of saving” was the most frequently time.” Learning More Teens might help boost their financial IQ by contacting JA Worldwide, the world’s largest organization dedicated to educating young people about financial literacy, work readiness and entrepreneurship. For more information, visit www.ja.org.
