High levels of student debt can hamper recent graduates as they start their adult lives and careers, influence their choice of job, location, or the decision to pursue further education (Asher 2009). At the same time, student loans are a vital source of financing for students looking to pursue higher education and, if managed appropriately, student loan debt is generally a worthwhile investment that enables individuals to receive the skills and training they need to be competitive in a dynamic global economy. In addition to decisions about paying for higher education, students face other financial choices while in college, such as deciding whether to take on consumer debt as well as selecting and managing transaction account products. As students leave college and transition to the workplace, they are faced with a series of important financial decisions on everything from budgeting to securing health insurance to saving for retirement. Possessing the skills, information, and tools necessary to make effective financial decisions will help to ensure that young people are able to make the right decisions before and after college so that they can begin to build their financial futures. To address these needs, this report has been prepared by the Financial Literacy and Education Commission according to Section 1042 of the Higher Education Opportunity Act of 2008 and describes the state of financial education among students at covered educational institutions. The report describes current efforts to enhance financial education in a number of institutions with respect to student understanding of financial aid, along with other financial education topics at two critical junctures: (1) Choosing Where to Go and How to Finance Postsecondary Education; and (2) Making Sound Financial Decisions When Enrolled and Beyond. Three appendices are included.