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Improving Financial Literacy to Empower Students

In order to understand how to pay for college, students need to be empowered to make the right decisions through better financial education.

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As a college student navigating the confusing world of scholarships, loans, and grants, I often wonder why the process of paying for college -- and truly understanding where my money is going -- is so difficult. Many universities have realized the difficulties their students go through, but only some have found a solution that works. Two schools that have gotten it right are the University of Illinois and Duke. Their websites (https://www.studentmoney.uillinois.edu/ and http://personalfinance.duke.edu/, respectively) are rich resources for money-saving tips, easy-to-understand guides about financial topics, and even educational games. Something to note about both websites is that they strike a great balance between providing general knowledge and catering to their students. This way, students from other universities (myself included!) can look to these resources for information, while students attending Illinois and Duke can know that they have enough information to make the right decision about paying for college, however they decide to do so.

What is a provocation or insight that might inspire others during this challenge?

To reimagine the cost of college, we need to start from the beginning: understanding the cost of college as it stands today.

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