I made an unsettling discovery in my undergraduate class on financial planning last week. While explaining mortgages, I asked my 38 students this question: if you buy a $400,000 house and pay 20% in cash towards the purchase, what will be the amount that you finance? Not a single student could tell me the answer. Despite the fact that they are all juniors and seniors majoring in business. I added more questions: what is 30 percent of 80? 60 percent of 90? They didn’t know. The closest they got was when one student said, in response to my query of “40% of 70”, that “I know it’s 4 times 7 but I don’t remember what that is.” Another student helpfully added, “28.” They explained to me why they couldn’t answer these math questions: they were never taught multiplication tables, percentages or fractions during their K-12 schooling. Instead, they were taught how to use a calculator. Without one, they are not able to do basic arithmetic. I later asked the dean about this, and he lamented that this isn’t a thing just for our university’s students; it’s a thing for their entire generation, nationwide. When I was in K-12, the fierce debate among parents and educators was whether to allow calculators in class. The calculators won. Today, the debate is about AI. And like before, the tech will win. But will that truly be a victory? Rowan University #college# #math# #loans# #CFP# #financialplanning#