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Student Debt Essay

578 Words3 Pages

Debt. That is what 70 percent of students who graduate, have to deal with according to MarketWatch. Debt has increased over the years because more and more individuals strive to accomplish their dream and goals. Moreover, Student Loan Hero says that approximately 44.2 million Americans are in student debt. Many students are unaware how tremendous this issue is, and how it can have a significant impact on your future. In addition, a numerous number of students are lost and don’t know how to prevent this from happening to them. However, there is a solution…Financial Literacy! This is important to college students like me because it can prevent them from losing money, help teach them budgeting, and overall help students choose the right decisions …show more content…

Many students are unaware how to budget. Some, even find it troublesome to budget because they hate having to decrease on the things they enjoy. A majority of people feed their wants and their desires rather than evaluating their needs. For instance, a high issue in college students is that they enjoy going out to parties spending loads of money on drinks rather than saving that money to pay for their housing or school supplies. That’s why financial literacy is important because it teaches students to sit down and evaluate where their money should exactly go. In addition, it will allow them to examine how they will spend in each criterion such as schooling, housing, transportation, and fun. By providing students with knowledge about money, they will able to productively consider how much they will be spending in various places and deciding which factors are the most beneficial. In addition, financial literacy will have a huge influence on them becoming responsible.
Moreover, financial literacy is beneficial to college students because it will make them be more responsible and teach them to choose the right decisions. Informing individuals about the money will help build their character and they will ultimately become more aware of the importance of money. Furthermore, students won’t only improve their accountability of money but also in life too. They will be more able to efficiently choose the right decisions and analyze the effect of the choices they

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