Graduated Students

year, thousands of new high school graduates pack their bags, move to new cities, and sign papers accepting loans they might not be able to pay back. Without proper education on personal finance, especially as it relates to paying for college, young adults are ushered into faulty loan plans that result in years of debt post college. In order to set students up to succeed financially, it is important to educate students and parents on their financial options before school in the fall. The best way to support families headed to college is to require that every high school student take a personal finance class before graduation. This will help smooth the transition into adulthood.
The average student takes out at least one loan to cover the costs of their education each year. In 2014 the average student graduating from college carried a negative balance of about $20,000 in debt, often spread over multiple lenders (Washington 23). Upon graduation, students rarely know exactly how much money they owe, and because even bankruptcy cannot wipe out student loans, these students spend much of their adult lives paying off the balance and interest accrued.
A personal finance courses would teach students how to manage their income and expenditures, while helping to significantly reduce the amount of debt students carry into adulthood. By teaching students how to save money and live within their means, this course will provide the next generation with a foundation to progress financially. Students choosing to get a job straight out of high school would also benefit from finance education for these very reasons. With education on how to manage their finances, all young people will have the knowledge to make healthy decisions, leading them to accrue good credit and purchase needed items likes cars and homes with skill and confidence.
While not every young person makes financial mistakes, those who do can face years of difficulty trying to get their finances back under control....