Rice University

Money-smart kids: What our summer interns learned about personal finance

Every year, I take our Kiplinger interns out to lunch and ask them two general questions: What did you learn during your time with us, and what advice would you give your fellow college students about managing money? For years, the No. 1 lesson learned has been to save early for retirement. But this year, managing student debt took the top spot. Meilan Solly, now a sophomore at William & Mary, said that she borrowed a small amount during her freshman year. But, she says, "I didn't understand what kind of loan I had or how I should pay it back." Now, Meilan says, she will try to avoid borrowing, and she plans to start paying the interest on her current loan to avoid...