Persuasive Literature Review How To Solve Student Poverty

Student’s Name
Course Name
Professor’s Name
Date
Student Poverty
This paper seeks to interrogate literature on how to solve student poverty. Financial management skills are integral in the life of students. Unfortunately, financial illiteracy remains prevalent among college students, driving millions to graduate with huge debts they will have to pay, thus delaying other financial goals beyond the collegiate life. Researchers and commentators in this field have observed a general trend of risky financial practices, underscoring the need for financial education. Researchers often use different terminologies around this subject. One such vocabulary is financial literacy, defined as possessing the knowledge, skills, and resources needed to discern consequences of the financial consequences an individual makes (Cude et al. 103). Another term is financial education, which refers to the knowledge-imparting programs or practices that are designed to make people financially literate. Students’ behavior is yet another term describing various financial decisions learners make. Other terms include planning and budgeting. Experts in this field share the view that financial literacy is needed to help students manage their money and earn some during their colleague life.
In "College students and financial literacy: What they know and what we need to learn," Cude and colleagues emphasize the importance of financial literacy for students’ prosperity during and post collegiate life. Besides, the authors explore, empirically, how students acquire financial knowledge and behaviors. The article further investigates the factors that underlie the variations in students’ financial risk statuses. The study finds that parents play a huge role in influencing their children’s financial behaviors, but their efforts alone are insufficient in fully equipping students with the skills they need to manage their finances effectively (Cude et al. 102). The authors argue that the poor financial decisions students make underscore the need for inculcation of financial management skills through, for instance, financial life skills course in campus. This source is essential in addressing student poverty. First, it defines the concept of financial literacy. Second, it lends an eye into the efforts that have been made in equipping learners with these competencies, what has not worked, and a ground for jolting into the future. To alleviate student poverty, parents from whom they learn the important financial management skills must have updated knowledge on the subject and practice them accordingly. Furthermore, it provides the rationale and roadmap for initiating policy changes such as making financial literacy course a prerequisite for graduation.
“Financial behavior and problems among university students: Need for financial education” by Jariah and colleagues investigates the financial problems that students experience. Making financial literacy a requirement for graduation is not enough; the learning experiences must equip learners with practical skills. The inquiry establishes that students’ family background in addition to the financial resources at their disposal influences their socialization experience. Additionally, the paper ranks 15 behavioral factors – including skipping mills, inability to track expenses, gambling, and lack of a spending plan – that contribute to the students’ debt crisis (Jariah et al. 91). The authors discover that where a student lives – on or off-campus accommodation – determines how severe the student’s financial problems can get (90). A nuanced understanding of the specific financial issues encountered throughout the collegiate life is essential in informing the subsequent policy changes to help students become better managers of their resources in today’s turbulent, borderless financial market.
In “The Canadian Student Financial Survival Guide : A Comprehensive Handbook on Financing Your Education, Managing Your Expenses & Planning for a Debt-Free Future,” McWaters shows students how to make plans for their finances. The author explores the nuances of planning, budgeting, and borrowing (McWaters 15). Specifically, the book probes how students can pay for school, student loans, and car expenses among other issues (McWaters 31). The book also addresses how learners can afford living independently; decide whether to live in residence and the type of employment to seek upon graduating. This source is relevant to the current study because it exhaustively discusses the concept of planning among students by answering pertinent questions on why and how to approach this tricky but vital activity. It further contributes by reassuring that students can leave a debt-free life, only if they develop the right financial behav...