As college student debt increases daily, personal finance courses seem to be a possible solution to this problem.

According to a 2011 Council for Economic Education survey, only 13 states in the United States require students to take personal finance courses in high school. Alabama, Mississippi and Florida are among the states that do not require a personal finance course.

“I think that high school may be a good place to start taking personal financial classes, especially since some students don’t go on to college, but I think students are more ready to learn financial skills in college,” said Bruce Gordon, professor of economics and finance.

Gordon said many students have grown up with a sense of entitlement.

“We immediately want all the goodies that might have taken our parents 20 years to be able to afford,” he said. “That attitude leads to horrible financial problems.”

He said schools can make students aware of the consequences of debt, while parents are the best teachers for students.

“Only parents can effectively combat that entitlement attitude, but at least we can make students aware of the problems that the debt will cause for them in the future,” he said.

UNA students echoed the professor.

“Parents should inform their children because, ultimately, they are the ones who are supposed to shape their children in the early stages of their lives,” said Eli Hyde, a freshman.

Kayla Hurt, a sophomore at UNA, said parents should teach their children how to take care of their money instead of the schools.

“If anything, personal finance classes could be offered as an elective,” Hurt said.

“When it comes to college, I think every student would be well-served by taking a personal finance course,” Luke Maslow, a professional in the banking and finance field.

Maslow said taking a personal finance course would allow students to be more prepared when they graduate. He said changes in regulations have cut down on predatory lending practices that help protect students from financial mistakes.

“These changes, however, are not a replacement for students knowing how to effectively budget, save, invest and manage credit,” he said.

If students do not correctly manage their finances, a poor credit report may follow. This poor credit report can have long-term consequences when it comes to applying for loans, buying a car or house and future employment.

“Given the fact that many employers won’t even hire someone that has credit problems, I think it is crucial that all of our students have a reasonable level of financial literacy,” Gordon said.

Whether it is the parents’ or the school’s responsibility, personal finance literacy is important to the future financial security of students.

“I think it is very easy for schools to try to do too much, but I believe that it is the mission of UNA to turn out well-educated students that are ready to lead effective lives and have productive careers,” Gordon said.