Carrying the Financial Load of Education
Could Lessons in Finanace Help Students Down the Road? In the US, today’s high school students are thrown into a milieu of financial uncertainty. Looking backwards, these students have been coming of age in the years that follow the US housing crisis. After that crisis, what some now call the Great US Recession had its myriad effects on the households these students live in. Looking forward, job markets seem erratic, though the cost of higher education continues its steady growth. Dealing with major life decisions, like student loans, or with planning for a stable future with prospects of owning common assets — like houses and cars — seems unimaginably difficult for today’s high school students. Given these circumstances, educators are forced to face the difficult question: How is it possible to promote financial awareness amongst students already over-burdened with their academic load? According to US News, most high school students are not able to manage their finances. Even though students are forced to engage with a diverse range of subjects, only 13 states require students to complete a personal finance course in order to graduate. When polling students about their desires to acquire personal finance skills, the majority of them express interest, especially when pinned against the prospect of future financial mistakes. Yet, the schools persist in focusing on the core requirements, especially language and math skills. Given the potential interest in learning financial skills, teachers efforts to incorporate personal finance into their course curriculum would probably be met with open arms by students. According to Forbes reviewing a few basic financial concepts can dramatically improve students’ ability to understand and manage their personal finances. These are the core concepts, whose early introduction to students can majorly improve their financial skills:
- Credit Cards
- Bank Accounts
- Credit Scores
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