The problem of the study was to determine college freshmen's financial knowledge. The entire freshman English 101, College Reading and Writing class at Texas A&M University--Commerce was surveyed. There were a total of 407 students enrolled in these classes. There were 20 multiple choice questions dealing with basic knowledge of financial issues, which should be understood in order to function in everyday life. Each question was valued at 5 points resulting in a total of 100 possible points for all 20 questions. The highest test score was 80 percent achieved only by one student and lowest was 0 achieved by six students. The average score was 34.8 percent for all students and the median score was 32.5 percent. The results on the test indeed validate the fact that recent high school graduates are not knowledgeable about everyday financial matters. It would seem that the appropriate place to resolve this issue would be at the high school level. Or perhaps since this subject matter is so important to a college graduate, perhaps universities should regard financial knowledge as being a component to their general education program and require a course in personal finance of all its students.