Learning how to Finance in the Real World by Kennedy

Learning how to Finance in the Real World by Kennedy - June 2025 Scholarship Essay

Many college kids graduate with financial debt and it’s not only due to paying for college, but also to the multiple credit cards they take out their freshman year. Once I turned eighteen and started preparing for college, I started getting numerous credit card applications through the mail as well as email. I couldn’t believe how many companies target college students.
I believe all students should have to take a banking class that teaches kids real life banking skills that they will soon need. How to open a savings or checking account, directions to balance a checkbook, how to build good credit, and most importantly, learning about credit cards, paying for them, and interest charged are just some of the topics I think should be covered. I believe this type of class would limit the amount of college students who fall further into debt with these new cards they take out.
Students in their final year of college can opt into taking a second financial class which teaches strategies on how to buy a house, what escrow is, mortgage payments, loans, how to invest in stocks and bonds, and even retirement plans. My parents are almost in their 50’s and get financial advice from my grandparents constantly. What if they didn’t know? Who is there to instruct my parents on what to do now that retirement is approaching? If there was a class to take before we went through all of these life lessons, the lessons would be so much easier to grasp.