Beginning in 2012, high school seniors attending schools in Allegany County, Maryland will have new graduation requirements--financial literacy classes. According to the Associated Press, these half-credit courses will teach students about maximizing earning potential, making the best of finances and maintaining good credit scores.
With college rates rising at rates that exceed inflation, students across the country are facing financial difficulties. The crises in mortgage and student loan industries have government officials scrambling to guard students against debt that could haunt them for years.
About two-thirds of undergraduate students borrow money for college and graduate with an average debt of $19,000. Student loans frequently outweigh a graduate’s earning potential, and many find themselves struggling just to make ends meet. What initially seems like a worthwhile investment frequently becomes an overwhelming burden for a growing number of students.
To avoid debt, students should educate themselves about their financial aid options. High school students can take advantage of the free college scholarship and grant information available to them at Scholarships.com. When conducting a college search, students should also keep in mind their current financial standing. If they cannot realistically afford their school of choice, runners-up should be considered.
Like students of Allegany County, those attending other high schools may be able to avoid student loans by completing a free college scholarship search. Regardless of GPA, athletic achievement or community involvement, students can find awards they may be eligible to receive.
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