Fin-U Analysis

Finance University would be a good product for college students. Using the “Cut It” clip would be great advertising for college students. It is true that today we spend more than what we receive and the punishments of this are more prevalent in college since we do not have money saved for a “rainy day”. One of the main reasons people do not go to college is because of the tuition and those families that cannot afford to give their child a college education, but still send their child to a higher education put themselves and their child in a bind financially. Loans, if handled incorrectly can be a costly burden. Middle and high schools are taking the right approach by teaching classes relating to personal finance. However, as we enter college we forget the tactics we learned in grade school. The statistics presented in the presentation of this product are very stunning. We could compare the debt that college students gain from loans to our economy’s debt and comparing something to the U.S. debt is not a positive in any way.  Colleges also can play a role in this. Instead of increasing tuition for the same services, colleges all around the world should start helping our generation with our finances. After all, how can we expect to improve the world we live in today if college graduates have to worry about their debt “knocking on their door step”? Some people cannot handle the stress that debt causes and may think about bankruptcy, or trying some easy cash place just to get even farther behind, or worst of all, taking their own lives. It is a little weird to see CBU’s debt per person the lowest in Memphis, with colleges like the University of Memphis with significantly lower tuition costs. I am curious how this would work if it were actually implemented. Would colleges take my advice, and provide this as a free service while keeping tuition costs the same? How would the financial advisors be paid? If colleges were to implement this idea, would the government assist in the funds and the running of the service? Would Finance University hire financial advisors for each college and have a more personalized relationship with each student, or would it work more like customer service only today, the customer dealing with random clients each time help is requested? In conclusion, this is a good product but it would need to be applied on a regular basis in our lives to reach full potential, greaten our generation financially and make for a better world.