jennifer lewis

CBS4) Most graduates leave college with $25,000 in student debt and $3,000 in credit card debt, according to Stuart Pattison the Colorado district president of Key Bank.

Pattison stopped by the CBS4 Weekend Morning News to talk about educating students with anchors Ericka Lewis, Arturo Santiago and Jennifer Zeppelin.

"I think that it is important that they get the education," said Pattison, "and typically that's not done through school. It's up to the parents to really give that education and give them the responsibility on how to manage their money appropriately."

He said it is important to help students create a spending plan.

"That's basically the budget process. When you are a parent helping your student understand managing their money," Pattison said. "Really looking at how much they are allowed to spend and prioritizing how much money they have to spend. Just understanding a budget on a monthly basis."

Pattison said it is also important to make sure students understand their loan obligations.

"There are a lot of options out there and before you sign any document what the re-payment is."

He pointed out students need to really educate themselves about the differences in private and public loans.

Pattison said staying organized with your money is also key to not getting into trouble.

"When you are new to finance, understanding how to balance a checkbook, online banking and understanding the statements is critical."

Taking good care of credit is even more critical to new college graduates than in years past.

"Earning valuable credit is important," Pattison said, "But it can also be dangerous for someone who is not used to using credit. Employers now pull credit reports to make hiring decisions so making sure you understand the power of credit and how to use it is very important." CBS4) Most graduates leave college with $25,000 in student debt and $3,000 in credit card debt, according to Stuart Pattison the Colorado district president of Key Bank.

Pattison stopped by the CBS4 Weekend Morning News to talk about educating students with anchors Ericka Lewis, Arturo Santiago and Jennifer Zeppelin.

"I think that it is important that they get the education," said Pattison, "and typically that's not done through school. It's up to the parents to really give that education and give them the responsibility on how to manage their money appropriately."

He said it is important to help students create a spending plan.

"That's basically the budget process. When you are a parent helping your student understand managing their money," Pattison said. "Really looking at how much they are allowed to spend and prioritizing how much money they have to spend. Just understanding a budget on a monthly basis."

Pattison said it is also important to make sure students understand their loan obligations.

"There are a lot of options out there and before you sign any document what the re-payment is."

He pointed out students need to really educate themselves about the differences in private and public loans.

Pattison said staying organized with your money is also key to not getting into trouble.

"When you are new to finance, understanding how to balance a checkbook, online banking and understanding the statements is critical."

Taking good care of credit is even more critical to new college graduates than in years past.

"Earning valuable credit is important," Pattison said, "But it can also be dangerous for someone who is not used to using credit. Employers now pull credit reports to make hiring decisions so making sure you understand the power of credit and how to use it is very important."