Being financially independent is a goal that many high school students, like myself, want to achieve. The ability to pay for our college tuition, buy a house, as well as have enough money for retirement are some of the significant milestones in people’s financial careers. However, in reality, many struggle even to get food on their plate. Almost seventy percent of Americans do not have over a thousand dollars in the bank. More than half of American households do not even have a single penny in their retirement account savings. Five out of six Americans have admitted to purchasing an item based on impulse.

These alarming statistics demonstrate that most Americans are not fully educated on the topic of financial literacy, let alone know how to save a buck in the long run. College tuition has increased exponentially over the past couple of years and will continue to become more and more expensive. Therefore, it is mandatory that all students need to be aware of the financial liabilities that come with college. With college comes school expenses and necessary living expenses. For instance, the average price for tuition for a UC school is over ＄12,000. This is a significant financial liability that needs to be kept in mind as quickly as now.

As a Korean-American living under a roof of immigrant parents, this risk can also extend beyond dangerous levels. Most parents who were once foreign to the United States would have trouble understanding the complex college system, meaning that costs can spike at an all-time high. It is crucial for parents to remain heavily informed about the college system, in order to prepare the funds for their kids’ futures. Private colleges can skyrocket tuitions to over thirty-thousand a year, which can leave families completely bankrupt. One popular method to deter these costs is through the concept of financial aid. Financial aid ranges in a wide array of different forms, and most students tend to fill out the financial aid forms assigned by their colleges. However, students can take an extra step beyond this by filling out the FAFSA form to apply for federal student aid.

Nevertheless, in the end, the most efficient method to curb expensive college costs is to receive scholarships from applicable colleges. By studying hard and showing an extensive range of attractive skills, students can save hundreds of thousands of dollars for college. Above all interests of a high-school student, the first step to becoming financially independent will always be to study hard and demonstrate a successful secondary education career.


<David Yi Oxford Academy 10th Grade>