Report: Colleges Don’t Do Enough to Prepare Students for Their Mountain of Debt

One in five surveyed gave their school an F.

Attending college is an expensive endeavor, and it’s only getting worse. Tuition has steadily risen, inflating a student loan debt bubble that stands to bankrupt an entire generation of Americans. Are schools doing enough to educate their students about debt?

While a large majority of college students will graduate with student loan debt, an even greater number of soon-to-be graduates say their alma mater did not provide them with an adequate understanding of debt and personal finance, according to a new survey by Experian. These soon-to-be grads feel the deck has been stacked against them, and many already expect to defer on payments.

Sixty-nine percent of participants said they will graduate with student loan debt, while 71 percent said they did not learn about credit or debt management in college. Seventy-two percent were concerned about how they’ll pay back their student loan debt, while one in five students surveyed gave their college or university an F for preparing them for how credit works.

Of those surveyed, 40 percent rated their current financial security either poor or fair, while just 16 percent of soon-to-be graduates already have a job lined up.

And yet, Millennials are awfully optimistic, despite their lackluster prospects. Fifty-three percent of those surveyed said they feel that being debt-free is attainable in today’s economy.

You can check out Experian’s full findings here.