Updated 3/13/12
It seems to me that one of the major transitions that is supposed to begin during the formative college years is from financial dependence towards financial independence.
The college experience is designed to help young adults take on an increasing amount of responsibility for their own thoughts, actions and life in total.
And this issue of money is probably one of the biggest challenges for today’s college students.
In a cultural climate that tells our young people to “indulge,” because they “deserve it,” helping them to live into this financial transition is a tall-task indeed.
But it’s a must.
I believe that when our students are allowed to remain fiscally immature (ie. fully dependent on others), during their formative college years, the ripple effect goes well beyond their financial borders and future.
An inability, or lack of willingness, to transition in this area can serve to stunt a student’s growth and development in other areas as well, including their:
- spiritual formation,
- vocational discernment,
- responsibility in relationships,
- seriousness with which they pursue their academics,
- and more!
And while some students will be more than content to allow their parents to fully fund their college experience, other well-intentioned students may be tempted to begin this transition — while still attempting to keep up with their financially backed classmates.
Not wanting to miss out on social gatherings, road trips or the latest and greatest gadget, many of our students will be tempted to take short-cuts, and get themselves into a lot of debt, by signing up for those all-to-easy-to-get credit cards at the booths on our campuses at the beginning of each new term (although many colleges and universities are starting to restrict the access these companies have to campus — recognizing the severe problems it is causing for their financially immature students).
Mistakes in this area, again, can have a devastating impact on the financial future of our unsuspecting students.
The reality is that there are but a seldom few places (or people) that will educate, challenge, encourage and work with our students in this important area of life.
And I think we need to be one of those “seldom few.”
I don’t necessarily know what it should look like from one ministry to the next, or one campus to the next, but I do think we need to be a part of helping our students to take on responsibility and begin the transition in this area.
What do you think?
- Do you currently assist students in becoming increasingly financially free from their families?
- How do you talk with students about being stewards of their current resources? About setting financial priorities?
- What do you think is one of the biggest ways we can assist students in this area of financial responsibility?
I’d love to know what you think about this. Please take a moment to share your thoughts in the comment section below.
Photo courtesy of: http://www.allmandandlee.com
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