Picking up a College Financial Literacy Program

by John Clark

Many people are aware of the global economic meltdown that has led to the financial crisis in many countries. This has affected many businesses, both great and small, and students also have not been spared. In fact, they are one of the people most affected by the crisis. Many people, especially parents, failed to consider how the crisis would affect their children’s education in college due to lack of financial literacy programs.

In the current day that we live in, get student loans is very hectic and tiresome. It is very hard but not impossible. The unfortunate thing that comes about as a result of this is day by day, more students seem to be leaving college because of financial instability. In addition to this, more universities have cut the class schedule, which, in the long run, means some students will have to attend college for a slightly longer period so as to achieve their degree. This brings about large debts during their graduation period.

It is believed that one of the many things one can do when there is economic meltdown is to get an education from college. I believe that it is the dream for many students in high school to be able to go to college, get an education and be what they wanted to be in life. The unfortunate thing, again, is that these students are unaware of the financial problems awaiting them ahead.

Most high schools usually don’t require education on finances. This is one of the major reasons why parents are unable to instruct and teach their children about finances in college. This is why colleges have started offering financial literacy programs to help students with their finances. This is not only helpful to the student but also to the entire college. The financial literacy program guides students on finances, helps colleges retain students, boosts the graduation rate of the college and also helps the college have a good reputation.

Incorporating a financial literacy program in a college and/or especially in high school helps the students to become responsible in terms of their finances. This becomes very vital especially for the students who are about to finish high school and enter college. Taking your child or students through this training will help them in being independent financially, not only in college but even beyond college.

The main aim, I believe, for financial literacy programs is helping students be responsible whenever it comes to finances. We all know how students are and how they like to have ‘fun’ when they are young. These programs focuses on the needs that have to be met first and puts them as priority and also helps students to have their ‘fun’ within the finances that they have. The program helps the students to attain skills from the real world that will help them succeed, not only in college, but even when they start working. The program has training on:

- Good relationships with money
- Types of account to open
- Responsible use of credit and debit cards
- mental game that money plays on students
- loan evaluation
- investments
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