At General Intelligence(s) we think students and young adults around our country can greatly benefit from improved knowledge of scholarships, financial aid and budgeting. Many schools do not have financial literacy courses and it can be expensive and confusing to register for courses at the undergraduate level. Therefore, we want to provide students with a centralized location where they can gain basic financial literacy skills. We will have informational articles and content in the areas of scholarships, financial aid and budgeting.
We highlight some prominent full-ride scholarships that have broad applicability to students around the country. In addition to this we make suggestions on how to be a competitive applicant and stand out during the application process. We have members of the team that are recipients of prestigious scholarships such as the one offered through Questbridge.
It can be exceptionally difficult to figure out the FAFSA or to understand what different components of your package may mean. For example, we can explain the difference between a subsidized and unsubsidized loan and what a Pell Grant is. In addition, we let the students know how scholarships can impact the aid that they receive.
It is important for every young-adult to be equipped with the skills to budget based on their income and expenditures. We highlight some ways to make a budget and how to be cognizant of different costs and spending habits. We also provide advise on how to avoid debt and to retain a good credit score- which is key for gaining good interest rates on mortgages, car purchases and etc.
“Like all learning, financial education is a process that should begin at an early age and continue throughout life. This cumulative process builds the skills necessary for making critical financial decisions that affect one’s ability to attain the assets, such as education, property, and savings, that improve economic well-being.”Alan Greenspan, economist and former chair of the Federal Reserve of the United States
““We don’t invest in financial literacy in a meaningful way. We should be teaching elementary school children how to balance a checkbook, how to do basic accounting, why it’s important to pay your bills on time. First, education. Begin the learning process as early as possible, in elementary school. Second, encourage and support entrepreneurism. Third, policy. I know it’s a priority of the US Treasury to augment financial inclusion and increase financial literacy. We need more government agencies to emphasize that by providing generous support of efforts to increase financial literacy.”Kabir Sehgal, author and corporate strategist at First Data Corporation