High Schools, Colleges Push Financial Literacy
Before Reason Chandler could get his student loan at Tidewater Community College in Norfolk, Va., this year, he had to complete a budget. In one column, he estimated his current income and expenses; in another, he projected his cash flow after graduation—estimating his potential salary as an urban planner.
“This budget worksheet slows you down a bit and makes you realize, ‘Hey, I have to pay this money back,’ ” said the 26-year-old, who says it took just 15 minutes to meet the college’s new financial-aid requirement. Despite qualifying for Pell Grants and veterans’ benefits, Mr. Chandler estimates he will have accumulated $45,000 in debt by the time he finishes his education, including a master’s degree.
“I’m pretty confident that once I’m done with college, I’ll be able to secure a stable job, start my career, and I’ll be able to balance things...
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