I think young people are pretty much aware that intercourse can result in stds or pregnancy, the schools have done that much, but they seem woefully ignorant of how their bodies work, how to take care of themselves and how to protect their health. We need to give out some sort of owner's manual to every kid when they enter puberty. The "talk" in 6th grade just isn't enough, it should be an ongoing thing.
Contraception is free if you know where to get it (schools here have condoms in the nurses office starting in middle school, or you can go to planned parenthood) , but actually using it on a regular basis? Teens still need to be constantly reminded to feed the dog or do their homework, who's going to be there over their shoulder telling them to put that condom on or take that pill?
I also worry about the emotional well-being of young people who are so starved for love and attention that they pursue serious relationships before they're even out of their teens, and think that having babies before they're even grown themselves is somehow ok. Maybe they feel that there really isn't anything else out there for them? I don't know. Learning about sexuality can't just stop with the physical aspects, there is a whole emotional and psychological component that seems to be missing - it's hard to teach this, and parents aren't doing a very good job of providing a good example. Throw in some popular culture and no wonder everyone's confused!
I've been a female for 42 years, and was lucky enough to have a mom who left medical texts and books like "our bodies, ourselves" lying around the house, so there never seems to be a time that I wasn't aware of what was going on inside me. I just don't think this is true of kids today.
I came here via a link from somethingawful, and while I realize this is a limited cross-section of people, i'm just as appalled as god is at the lack of knowledge out there.
(fwiw, I have three sons - 16, 13, and 8)