By Jessie Hethcoat
Freshman Megan Drouhard is concerned about her financial future. Because she is not taking classes about economics and finances, she feels as though she may be ill prepared for getting out of college and having to manage money.
If a student does not take interest in economics and his or her own education regarding finances, there is a large possibility that his or her financial education will come from experiences, or mistakes, rather than in the classroom.
"I think budgeting is an ongoing process. From the time that you get your first allowance until when you start paying your mortgage, you're always learning about personal financing," Drouhard said. "But I'm worried that when I do learn, it will be from mistakes."
Oregon high school students are required, by state law, to learn about their personal finances before graduation. However, it seems as though many schools are not filling this requirement and students are graduating knowing nothing about stocks, credit cards and taxes.
A new task force in Oregon, consisting of teachers, school board members, district administrators and leaders of nonprofit organizations, has begun to put a petition into effect that will add personal financing into the math requirements for graduating high school students.
The problem is not just in Oregon high schools. It is visible here at the University of Portland, as well.
Finance professor Brian Adams believes that financing is an important part of every major's curriculum, but UP does not have a finance class in most schools' cores.
"Personal financing courses should be a requirement. It is something that every graduating senior should take," Adams said. "I don't think that most students even know the first question to ask about financing. Any financial knowledge is a good thing, but it seems to me that most students wouldn't even know where to begin if they had to deal with fiscal responsibility right now."
Freshman Brittany McGurk also acknowledges that she knows less than she would like to about financing.
"I had a job in high school, so because of that, I learned somewhat about managing money," McGurk said. "We never learned about financing in high school, but I guess it is just something that you learn from experience"
Sophomore Gabby Hansen recently learned that she cannot take the personal financing course, a business 400 level, without prerequisites.
The only time that a student can take the financing class without business prerequisites is if the class is taken during the summer session. Even then, there are math requirements to take the course.
"If UP is not offering these financing classes to non-business students, we are expected to learn about finances elsewhere," Hansen said. "Isn't that the point of college, to help prepare us for our future?"
These expectations are frustrating to students and professors like Hansen and Adams, who believe that personal financing classes are an important part of readying the college graduate to manage their salaries, taxes, rent or mortgage and debt.
Additionally, this knowledge applies to college students who haven't graduated. Though many undergraduate students will not have to worry about most of their finances until after college, college students are still legal adults who can make their own financial decisions.
"For the most part, a student's finances are being taken care of by his or her parents," Adams said.
However, freshman Andrew Hudak is already facing the responsibilities of being an adult and having to make decisions that can impact the rest of his economic life.
"I am constantly getting credit card offers in the mail. I know you're not supposed to have too many of them, but who knows how many people are uninformed enough to say yes to every credit card offer?" Hudak said.
With the added pressure of a failing economy, the issue of personal finance management is even more prevalent.
Although financing classes are hard to get into, there is the Investment Association, where students learn and practice financing and investments. Additionally, there are also economic lectures and panel discussions on campus that are open to all students for attendance.
