CU scholarship

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College students are “broke.” This is the stigma that typically describes students during their four undergraduate years and unfortunately is applicable to most college graduates because of poor financial planning. Halfway through the semester you can hear students grumble about their refund checks being gone and they are now struggling to scrimp money together to provide themselves basic necessities for living. To prevent putting myself into a financial strait for the next three plus years of my life, I developed goals. While attending Paint Branch High School, my guidance counselor suggested I take a financial planning course, a course I recommend be implemented as mandatory throughout nationwide school systems. I completed the course my sophomore year and came out with the skills and understanding I needed to comprehend how finances work and how my illiteracy in that realm could be detrimental to my future. One of the biggest lessons I learned from that course was to minimize my debt when matriculating into college, especially when it comes credit and loans. CNN.com reported students are also graduating with “…$3,000 in credit card debt.” One way I developed my financial comprehension was researching the advantages and disadvantages in obtaining a credit card and figuring when the right time is to get one. I have found that a credit card during college typically does more harm than good; the monthly payments and interest collected takes away from money that can be used for more “Seven in 10 college seniors (71%) who graduated last year had student loan debt, with an average of $29,400 per borrower”(projectonstudentdebt.org) I have improved my financial literacy by reading and analyzing loan agreements. This past year I had t... ... middle of paper ... ...on, sign and understand W-4 and W-2 forms, and learn about taxes. Another tool in assisting myself in my financial endeavors is pursing higher education. In today’s society, it is becoming increasingly harder to find a job post college and in turn this effects loan and credit repayments. “More than 40 percent of recent U.S. college graduates are underemployed or need more training to get on a career track...”(nydailynews.com) A part of developing my financial literacy is understnding that I cannot make rash decisions when it comes to my funds as I control my financial state. With that being said, one of the most important steps I or any student can take is investing in themselves. Studying a major in college that will give you a consistent financial turnaround is critical to one’s future; without a consistent job student’s can become overwhelmed with loan payments.

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