Palmetto Report

(Rock Hill, S.C.) -- Student loan debt, at about $1.5 trillion, is now the second-largest debt market in the U.S. behind home mortgages, with the average student carrying more than $33,000 in student loans upon graduation. Additionally, a national survey of more than 18,000 undergraduate students at 52 colleges and universities, conducted by Ohio State University, found 70 percent reported feeling stressed about their personal finances. Earlier this year, the U.S. Financial Literacy and Education Commission, part of the U.S. Department of Treasury, issued a report that recommended that colleges and universities start to require financial literacy courses. Dr. Jimmy Cheng, an assistant professor of finance at Winthrop University who who specializes in financial planning, was a guest on the Palmetto Report to discuss the struggles students face managing money.