Senior Beth Blau recently conducted a survey of financial literacy among Millersville University students, and found that our student body has a lot to learn about their finances.

The survey was given to 119 undergraduate students in hope of discovering three things; financial practices and debt accumulated by MU students, basic financial knowledge and key financial topics, and general interest in a course on personal finance if it were offered.

The survey showed that 50 percent of participants owed over $10,000 or more in student loans, and 31 percent of those surveyed owed money in private loans that typically have a much higher interest rate.

In this day and age of high tuitions at private colleges, we have it pretty good at Millersville, paying roughly $14,000 per semester.

Still, to pay for this, students are forced to take out loans which build up quickly and can even cause one to leave school and enter the work force early.

Sixty-one percent surveyed had at least one credit card, and three quarters of those owed more than $1,000 on their credit card.

Credit cards companies often trap college students who are looking in every pocket for spare cash, the creditors have no problem loaning you money at extremely high interest rates.

Probably one of the most startling things found in this survey was that nearly 43 percent of those surveyed were late on payments or had missed at least three.

A large group of college students graduate with terrible credit scores and this can prevent one from getting a much needed loan, credit card, or even what we all want out of college, a job.

MU students proved naive on their financial knowledge; 80 percent of students did not know their credit score and 38 percent did not know how to acquire one’s credit score, although 69 percent of students knew good reasons on why one should know their score.

It is always good to keep track of things like this because as listed above, a low credit score could be very detrimental to one’s future.

Ninety-three percent surveyed said that MU should offer a course in personal finance.

There is a sense among students that knowledge about personal finance is important, it is just that many are unaware of the hazards posed by not knowing how to manage money.

MU has built a website called Cash Course that takes aim at educating the student body on how to organize and budget income.