IU study gauges graduate students’ financial literacy

IU officials are studying the financial literacy of graduate and professional students to determine students’ financial priorities and concerns.

According to a press release, the university received grants totaling $180,000 for the two phases of the project from TIAA-CREF, a national investment firm.

The first phase of the study focused on graduate student academic appointees, including students who worked as teaching and research assistants.

The second phase will focus on other graduate and professional students and compare their concerns and levels of financial literacy to that of the first group.

Dan Rives, associate vice president for University Human Resources, said graduate assistants have financial priorities similar to other new members of faculty and staff.
Most are concerned with debt, particularly student loans and credit card debt.

Based on survey responses received from graduate and professional school students, IU and TIAA-CREF have offered financial literacy seminars to teach students how to manage debt and invest their money.

“We want to support financial literacy for graduate students,” Rives said in a press release. “But there’s also a component to this of understanding how Indiana University can do a better job in the future of assisting new employees. Today’s graduate students are the university employees of the future.”

— Tori Fater