Thursday, September 29, 2011

Financial Goals: Graduation


College admissions offices make it a point to harp on the increasing numbers of applicants. Enrollment may be steadily rising, but the percentage of graduates has not.

It is the issue of graduation that stands in the way of the financial education, because so many college students do not graduate. Kids work more hours, attend school part-time, and sometimes- eventually not at all because their lives become consumed with, well, life. Relationships and jobs and children and mortgages move to the forefront, and college graduation becomes less important.  This lack of graduates leaves the world with fewer trained workers for more high-skill jobs, and dwindling incomes.

Allegedly, the best way to prepare the US against another 2008 financial crisis is through education. I mean the kind that involves money management, although simply graduating college ensures a sort of “experience and learning ability” that allows students to manage their money.

Institutions were mostly to blame for the recent “financial mayhem” but it was the adults who bought unaffordable mortgages and dug themselves further into debt.  At the moment, countries everywhere are trying to figure out how to educate school age children about money so that in their adult lives, they will have been given the tools to manage their money, and will avoid another financial crisis.


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