Pages

Sunday, May 1, 2016

FinU and Me: What can an Organization like FinU do to Help College Students?

Finance University, or FinU, is a pretty good idea. No doubt that an organization such as this can really help college students in financial need. But for me, I struggle to find a solid, convincing reason why I, personally, would want something like this. Perhaps I'm just the minority, but I really don't have too much financial stress concerning college. The combination of scholarships, previous savings, and having a general money-smart mentality gives me the idea that I can handle the financial burdens of college. I'm not an extravagant spender--in fact, I'm not really a spender at all. The money I earn from my jobs in enough to combat the expenses that I have to pay. (Granted, I am still living with my parents, so I naturally don't have as many expenses as a college resident.) So, what use would someone like me have for an organization like FinU? Not much, I would say.
During the presentation, the group made a point that most high school students coming into college have little to no understanding of budgeting, investing, and financing. Having taken a personal finance course in high school, I can say with some degree of certainty that I have a general understanding of how to budget, invest, and manage my money. Nonetheless, I am aware that not everyone has had this specialized education during their high school careers, and even more unlikely, for a child's parents to teach them about financing while growing up. I am sure that there are plenty of young college students who could use the help that FinU offers.
And indeed, the service that this organization can provide with surely help college students. As comically stated in the presentation, many students struggle to find a way to "cut it"--referring to student loans and college expenses. Having a financial adviser that knows the college life will no doubt help any college student looking to budget their money. The organization certainly succeeds in that aspect; go to any college campus, and you will easily be able to pick out students that could use some financial help.
Yet, not everyone will need the help (citation: me). If such an organization like FinU were to exist, my main concern is integration. There will be students that have no need for extra financial help. There will be students that simply don't want other people getting involved with their finances. But there will be students that will welcome FinU. A way to effectively get this program to students that need it without forcing or pressuring people who don't need or want it will certainly help this organization shine.

No comments: