It doesn't surprise me, but apparently high school seniors have no clue about money. The story is here.
The frightening thing to me is this quote from the story:
Only 14.2 percent correctly said that stocks likely would offer the higher growth over 18 years of saving for a child's education...In this year's survey 44.8 percent thought a U.S. savings bond — one of the most conservative investments — would offer the highest growth.
Holy cow! Even I knew in high school that the stock market was a better rate of return than a savings bond. Granted, I didn't know a ton about finances then, and could still stand to learn more now (as an adult), but I have some semblance of a clue.
Hopefully college or the real world will open these students eyes without them incurring tons of debt. Can you imagine paying 18% interest for a cup of Starbucks? Forgive me for being cynical, but I plan to look for someone a little older to manage my money. :)