In April, Harvard University’s economics department for the first time led a Personal Finance workshop series for undergraduates. In May, Princeton students attended the university’s inaugural Financial Literacy Day, complete with T-shirts and consultations.
“I do think this is an environment that is very stressful for many students,” said John Y. Campbell, an economics professor at Harvard who taught the workshop. “There are long-term trends like the increase in inequality, rising student debt—they make students very mindful of the challenges they’re going to face.”
Kian Mintz-Woo, a postdoctoral research associate at Princeton who participated in the Financial Literacy Day, said he craves this kind of formalized instruction.
“We’re a generation that’s really shaped by some really poor macroeconomic decisions and it’s harder for us to think that there’s sort of exogenous progress in our lives and our livelihoods,” he said.
The Ivys are part of a growing trend to teach students about money. In the last decade, community colleges, public schools and state universities have started offering personal-finance programs to meet student demand, according to the Financial Security Project at Boston College.
More states are recognizing the importance of financial literacy at the high-school level. Nineteen states now mandate high schools to educate students on basic financial knowledge before they graduate, up from 17 states in 2018 and 13 in 2011, according to the Council for Economic Education.
That is from Julia Carpenter in the WSJ.