From Debt to Dreams: Students Deserve Financial Knowledge by Janyia

From Debt to Dreams: Students Deserve Financial Knowledge by Janyia - June 2025 Scholarship Essay

Envision obtaining a high school diploma but being uninformed about budgeting, debt avoidance, or bank account management. Financial literacy enhances the knowledge and skills needed to make informed decisions about managing finances. Given that knowledge supports learners prepare for real- world obligations, lowers the likelihood of long-term financial shortcomings, and cultivates economic stability for both individuals and communities, financial literacy is reasonable to be a mandatory curriculum in education.
To begin with, while school provides structure and guidance through adolescence, it should also evolve to prepare us for the independence and responsibilities of adulthood. However, majority of high school graduates lack fundamental financial knowledge, making them unprepared for the real world. Without prior understanding, daily responsibilities like budgeting, paying rent, filing taxes, and using credit cards responsibly can be quite challenging. Individuals need to be educated about these skills; they are not something randomly acquired automatically. Enforcing a financial literacy course would ensure that all students are more equipped to oversee their finances and confidently approach adult responsibilities.
On top of that, teaching financial literacy at an early stage can reduce the likelihood of financial mistakes later in life. Many young adults, especially college students, find themselves buried in credit card debt or overwhelmed by student loans due to a lack of financial education. Understanding how important budgeting is would aid in individuals being less likely to overspend. Gaining this knowledge before entering adulthood allows students to make informed decisions about finances while developing saving goals. Incorporating financial literacy into education is beneficial to students because it equips them with essential skills that can be utilized throughout their lives.
Moreover, individuals not only benefit from financial education but also strengthen the economy overall. Individuals with financial stability may be able to not depend on the government for assistance programs, which can reduce the strain on public resources. Those who are financially educated are more likely to start businesses that stimulate economic growth and stability. Decisions like this can support job creation, community development, and financial security. As a society we are investing in a more stable and prosperous future for everyone by promoting financial literacy into education.
On the other hand, some people argue that financial literacy should be taught at home or learned through firsthand experiences. While that sounds reasonable, the reality is that many parents were never taught proper financial skills themselves and may pass down misinformation or unfavorable habits. Relying on trial and error can also lead to profound consequences, like falling into debt at a youthful age. Not every student has the same support system at home, which creates an unfair gap in financial preparedness. By standardizing financial education in schools, we give all students an equal opportunity to succeed, regardless of their background.
To sum up everything that has been stated, financial literacy is a vital life skill that should be a standard part of every student’s education. It aids in preparation for adulthood, prevents financial mistakes, and builds a stronger economy. It is imperative that educational institutions acknowledge financial literacy as a need rather than a choice.