Banking on My Future by Diego

Banking on My Future by Diego - June 2025 Scholarship Essay

If I could make one elective a required class, it would be personal finance. Not the kind filled with dry lectures or simplified budgeting apps, but a practical, immersive course that teaches students how to handle real-life responsibilities with confidence and clarity. This wouldn’t be about just writing checks or calculating interest; it would be about understanding student loans, building credit, renting your first apartment, paying taxes, choosing insurance, and learning how to save while still enjoying your life.

The idea first became clear to me during my first year of college, when I noticed how unprepared many of my peers were when it came to financial decisions. Even the high-achieving students had gaps. Some opened credit cards without understanding the consequences. Others delayed filing for financial aid because the forms were overwhelming. One of my closest friends didn’t buy his textbooks until weeks into the semester because he was too nervous to tell his parents about his expenses. I was also juggling part-time work, tuition payments, and the rising cost of living. We weren’t irresponsible. We just hadn’t been taught how to succeed in this part of life.

A personal finance class wouldn’t just teach math or economics. It would give students a sense of control. It could show them how to build a basic budget, set up an emergency fund, compare loan offers, or start investing even with limited income. Assignments would involve planning a real monthly budget, simulating the experience of renting an apartment, researching insurance options, and analyzing a pay stub. The course would meet students where they are, regardless of background, and connect financial decisions to personal goals.

Making this subject a graduation requirement could help create real equity. Some students grow up with access to these lessons at home, while others are left to figure it out on their own. A course like this would not only provide everyone with the same information but offer them the same chance to succeed. It would help students avoid long-term debt traps, reduce stress, and make informed decisions as they step into adulthood.

Perhaps more importantly, this course would shift how students think about their futures. They would begin to see their life paths with more intention, not just academically or professionally, but financially. They would take more thoughtful risks, pursue passions, or start businesses because they would know how to build and protect a foundation. They would have the confidence to make choices that align with their values, instead of feeling stuck or uncertain.

Many of the most dedicated and talented students I have met over the years have paused or left college entirely due to financial hardship. Often, it wasn’t the money itself that caused the issue, but the lack of guidance on how to manage it. This is a problem we can address, starting with one class that every student takes.

Teaching personal finance is not just about avoiding mistakes. It’s about equipping students with tools to build the kind of life they want. It's about showing them that financial literacy isn’t only for accountants or entrepreneurs, but for anyone who wants to be prepared, independent, and empowered.

We can’t guarantee that every student will leave school knowing exactly what they want to do. But we can make sure they leave with the knowledge to support whatever path they choose. That starts with teaching them how to manage their money.