If incoming freshman had to take a test in financial savvy, most would begin their college careers with a failing grade, according to a recent study by a national financial literacy coalition.

The Jumpstart Coalition for Personal Financial Literacy tested 5,800 current high school seniors for financial knowledge. The average score, while up 2 percent from 2002, was 52.4 percent — an F by traditional grading scales.

Deborah Thorne, a sociology professor at Ohio University, said she tries to spend a week in each of her classes discussing financial issues such as credit card debt. Using the Web site www.cardweb.com, she demonstrates to students how long it can take to pay off credit card balances accumulated in college.

“You can watch the expressions on my students’ faces when I’m showing them this,” she said. “They panic.”

The average student graduates with $2,200 on credit cards, according to the study.

If a student never misses his or her 2 percent monthly payment on a card with a balance of $2,200 and an annual interest rate of 18 percent, he or she will spend the next 32 years paying it off, Thorne said.

The average OU student graduates with $18,101 in federal loan debt, said Sondra Williams, director of student financial aid. The total amount of federal aid students can receive is $23,000. In addition, 1,900 OU students borrow alternative loans averaging $9,334.

“A lot of students really have to go that route because they can’t borrow enough, or they have already borrowed the maximum, or they’re not doing well enough to qualify for FAFSA,” Williams said.

For students who can afford to invest money, they do not know the best ways to do so, according to the study.

When asked if stocks had higher average returns than savings bonds, only 14.2 percent of students correctly answered yes.

“There’s a whole segment of society that’s going to miss out on what’s generally the most lucrative investments for average investors,” said Laura Levine, the coalition’s executive director.

Also, 73 percent of students did not realize their savings accounts are taxable if they make a high enough income, and 59.7 percent of students did know they could lose health coverage if their parents lose their jobs.

Thorne said she would like to see the university do more to inform students of financial issues.

“A university has a responsibility to educate,” she said. “It wouldn’t be that difficult to establish a one-credit hour class where students have to go and learn about health insurance, about credit card debt and about bankruptcy.”