The Council on Postsecondary Education is pleased to announce the release of a new report, "Financial Literacy Efforts at Kentucky's Public Colleges and Universities." This report, written in collaboration with Kentucky's public colleges and universities, highlights strategies taking place to educate students about college cost, student aid, responsible borrowing and overall financial wellness.
Paying for college and growing levels of student debt continue to be a top concern of policymakers and the public. CPE and other state leaders are intensifying the efforts to improve financial literacy among students/families and increase transparency around college costs. In Kentucky, over 60% of public university graduates leave with student loan debt, and average loan amounts are over $29,500, up from just over $22,000 in 2010-11. Consequently, the Council on Postsecondary Education passed a resolution urging campus leaders to implement a financial literacy program that provides students with a concise snapshot of their projected cumulative debt, potential total payout and potential monthly payments.
The report and resolution are part of the Council's larger effort to expand financial access to postsecondary education as part of its strategic agenda for postsecondary and adult education, Stronger by Degrees.
To read the report, visit https://v3.boardbook.org/Public/PublicItemDownload.aspx?ik=41908191.