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2020 Student Money Survey & Best Cards for Grads

2020 Student Money Survey & Best Cards for Grads

2020 Student Money Survey & Best Cards for Grads


Wallethub News - May 13, 2020

UNDATED - With graduation season upon us and most students getting ready for a virtual graduation ceremony, the personal-finance website WalletHub today released a nationally representative Student Money Survey, which found that roughly 20% of students think a college education is less important due to COVID-19.

The survey also found that 43% of students think credit cards will be more important after the pandemic and 36% feel the same way about credit scores, so WalletHub’s editors also released their picks for the Best Credit Cards for 2020 Graduates to help new college and high school grads build credit and maximize savings.

Below, you can find a handful of additional highlights, along with a WalletHub Q&A:

30% of students have missed a bill payment since the pandemic began.

COVID-19 has changed almost 56% of students' plans for summer jobs.

35% of students would rather risk COVID-19 on campus than self-isolate at their parents’ house.

Having emergency savings (52%) is the most important financial lesson students have learned from the pandemic, followed by having a steady job (20%) and not going into debt (14%).

The best credit cards for 2020 graduates are the Bank of America® Cash Rewards Credit Card for Students (limited credit & EDU email), the Petal Visa Credit Card (limited credit & no EDU email), and the Capital One Secured Mastercard (damaged credit).



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