Financial Literacy: The Class Every Student Needs by Quoc

Financial Literacy: The Class Every Student Needs by Quoc - June 2025 Scholarship Essay

If I could pick one extracurricular activity to become a required class, it’d be financial literacy. Not the kind of stuffy math class that makes your eyes glaze over, but a real, hands-on course about managing money in the messy, complicated world we live in. I’ve seen too many people, including my own family, stumble through financial decisions because no one ever taught them the basics. Schools drill algebra and Shakespeare into our heads, but they leave us clueless about taxes, credit scores, or saving for the future. Financial literacy should be mandatory because it’s a life skill that sets us up for independence and security, no matter where we come from.
When I was 14, my mom sat me down at our kitchen table, bills spread out like a puzzle she couldn’t solve. She’d been hit with a late fee on a credit card she didn’t fully understand, and it was eating up money we didn’t have. That moment stuck with me—not because we were broke, but because I realized no one had ever shown her how to avoid that trap. I started reading up on budgeting through library books and free online courses, piecing together tips on saving and avoiding debt. If I’d had a class teaching me those skills, I could’ve helped her sooner.
A financial literacy class wouldn’t just be about numbers. It could cover real-world stuff: how to budget for groceries, what “APR” means on a loan, or why investing early matters. Picture a classroom where we role-play negotiating a car loan or create a savings plan for college. Those lessons would’ve saved my cousin from a shady car dealership that locked him into a terrible interest rate. According to a 2023 survey by the National Financial Educators Council, 70% of young adults wish they’d learned more about personal finance in school. That’s not just a statistic—it’s a wake-up call.
What makes this idea so important is fairness. Not every kid has parents who can teach them about money. My dad worked long hours, and my mom was too stressed to explain 401(k)s or credit reports. A required class would give everyone a shot at understanding money, especially students from families like mine who don’t have financial advisors on speed dial. It’s about closing the gap between those who grow up with money smarts and those who have to figure it out the hard way.
Some might say financial literacy sounds boring or that it’s the parents’ job. But let’s be real—most parents aren’t equipped, and a well-taught class could make it engaging, like a game where you “win” by outsmarting debt. Plus, it’s not just about personal gain. People who manage money well are less likely to need public assistance, which helps everyone. A 2021 study from the Federal Reserve showed financially literate people are 15% less likely to face foreclosure. That’s the kind of impact we’re talking about.
Making financial literacy a required class would change lives. It would’ve given my mom the tools to avoid that credit card mess, and it could give kids like me the confidence to chase our dreams without financial fear. I want to be a nurse someday, and knowing how to manage my money means I can focus on helping others instead of worrying about bills. That’s the future I want for every student