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Financial Literacy Essay

747 Words3 Pages

Driving down a deserted road in the middle of nowhere, seems like a bad idea doesn’t it? Imagine you’re driving down the road, as night starts to fall you see the skyline disappear in the distance. All of a sudden your GPS, fades out, it’s just you, in the middle of nowhere. You just hear the sound of your engine rumbling, as you creep forward slowly. You hear a deep grumbling, behind the car, you assume it's your engine and you proceed. All of a sudden, a massive bear stumbles out of the woods, on its hind legs and lets out a bloodcurdling roar. In panic, you start to back up, but the bear has your car in its grasp. It seems like there is no possible chance of escape. All of a sudden, your GPS lights up, and gives you directions to …show more content…

As a result, financial literacy is largely left out in curriculums in schools around the country. For example, at my high school, we only have one financial literacy class that I am taking, and it isn’t heavily advertised. However, the basics of financial literacy are instilled in us in elementary school, we learn that we should save our money for a new bike later, instead of spending it on candy now. So, why don’t we teach it in middle and high school? In 2016, a study by FINRA found that high school students who take financial literacy courses in high school have better credit scores in life. This increases their chance of paying off loans, so when students study financial literacy in high school, it gives them tools to create a more prosperous future for themselves. So why wouldn’t schools be receptive to this? Like the bear in the example above, loan debt can sneak up on students and rear its ugly head, frothing mouth and all, but if students are armed with the right tools they can defeat that debt. Currently, their arsenal is empty, so they cower in the corner, shielding their face from the painful blow they are about to receive. Therefore, LendEDU’s job is just as important as ever because as the rate of students in debt rises, LendEDU is there to prevent them from “going in

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