The latest description, "I'm so poor," has become so apart of the norm for college students to say, that it has become a catch phrase all across the nation in universities.
What they aren't teaching in schools
The average student who enters college as a freshman, unless they come from a background with financial stability and mentors, will go through the struggle of balancing finances, a Social Life, and academic success. Unfortunately, students from an early age, stemming from as early as elementary school, are taught that getting an education and going into college is the most important goal to have in their adult lives.
While that may be true, a significant input into the curriculum should go past the extent of the usual solution to the problem, "just take out a loan ." While yes, taking out loans is one of the solutions in financial support in college, is does not warrant for a permanent solution for all college students.
Cons of not teaching Financial Literacy
Without teaching Financial Literacy in school, a student in college may ruin their financial lives, or at least put a stint in their economic development, if they are not taught how to manage money. This includes financing, budgeting, taking out loans, and understanding how to file their taxes. Most people, unfortunately, learn how to do these things after college is over when they have ruined their credit before they could even take out a loan to rent out their first house.
Those who come from parents or guardians whose successful in financial stability, are set to be better at their finances in life.
Is it too late?
Students should be taught at early ages to become better at their finances, and the importance of having financial stability. It is not to say that their goals, passions, or education are not necessary.
However, you can be a successful doctor in loads of debt, and always in a hole trying to dig yourself out. Also, those who are financially healthy are not always the smartest of the population, but those who decided to take the initiative in learning how to invest and budget. Wealth can lead to not only financial stability, but also, it lets students have a balanced academic life and social life.
Some solutions could be for students to take the time to talk to their banks. If not, then people who have struggled financially and see what not to do, and learn from those who are successful. In this society, there are many ways to seek advice and help through social medias and the web.
