If you are a high schooler preparing for college, investing in higher studies would be one of your most significant financial commitments. With escalating college costs, rising tuition fees, and many associated expenses, how do you plan to manage your money?
Thankfully, high schoolers and college freshers now have access to powerful fintech tools. Recent advancements in financial technology have made college life much easier. Your peers might already be managing college funds like a pro.
So, why would you be missing out on something as crucial as your money management? These innovative solutions from leading fintech platforms can help you excel in managing college expenses, besides strengthening your financial literacy.
Let’s explore the potential of fintech apps for college students and make the most of it.
How relevant is fintech to college students?
Your college days give you the essence of independence, and you learn to live away from your family. Well, this is the ideal time to start with personal finance concepts. Acquiring financial literacy early in your life would deliver its bonus throughout your thirties, forties, and late into your retired life!
Let’s examine the numbers to determine how relevant fintech is for college students.
- As much as 72% of college students make payments using smartphone apps, while 93% of students have access to digital payment solutions.
- Fintech companies have helped thousands of students access scholarships and manage their college expenses.
- Currently, the student loan debt in the US stands at $1.71 trillion. Naturally, students need fintech apps to ease their loan repayment process and responsibly manage debt.
While personal finance often intrigues teens or tweens, fintech solutions can help you navigate these complex concepts. A lucid understanding of finance and responsible money-handling habits equip students with essential skills for a successful future.
These valuable tools go a long way in nurturing financial literacy, helping you stride toward financial independence.