Welcome!

News Feed Item

'The Missing Semester' Financial Guide Helps Young Adults Take Control of Student Debt

Author Eugene M. Natali, Jr. wants to help students recognize that financial choices have consequences

PITTSBURGH, Jan. 21, 2014 /PRNewswire/ -- Recent college grads have the highest-ever student debt, an average of more than $27,000 (1). That burden has been increasing for decades, and the statistics certainly shouldn't surprise. And don't hold your breath, because it's likely that the class of 2013 will take the top spot once the numbers are tabulated, and the class of 2014 soon thereafter.  

(Photo: http://photos.prnewswire.com/prnh/20140121/PH49296-a )

(Photo: http://photos.prnewswire.com/prnh/20140121/PH49296-b )

This financial crisis merits the attention that it receives in the news media. Over the last 30-years the inflation-adjusted cost of college is up 257%, while family income has grown just 16%, according to statistics on www.whitehouse.gov. That suggests that even as students take on more debt, their ability to re-pay it is declining.

But there's a bigger problem, in an older generation, that points to trouble ahead for the students. Baby boomers across the country – with average savings that are far lower than they need—are facing a retirement crisis.  Far from accumulating savings, 76% of Americans are living paycheck to paycheck (2). 

So why do we continue to send our graduates into the adult world of financial responsibility, ill-prepared for the money choices that await?

Financial choices (students are already making them) have consequences, and the penalties of not choosing wisely can stay with us, literally, for a lifetime. 

How can we, with a clear conscience, continue to send our students into the working world with average debts of nearly $30,000, without teaching them how to repay those loans?  Money 101 is the most under-taught subject in America (check almost any course catalog), and the gap in financial literacy is quickly becoming a gaping hole.  

Matt Kabala and Gene Natali, Jr. wrote a small book that's having a big impact. The Missing Semester is a concise, easy-to-read financial guide for young adults 18-30 years of age.  A number of educational institutions across the country have incorporated The Missing Semester into classrooms. The book's website shares both expert and student testimonials (www.themissingsemester.com). There is evidence that people out there get it—educators who grasp the importance of this subject and students who recognize the control they can have over their financial choices.  For example, financial plans created by students at the University of Pittsburgh in conjunction with The Missing Semester will leave you hopeful. (The plans are shared on the book's website.)

But it's clear these represent a tiny fraction of a solution when you realize that everyone of their generation will face these financial topics, questions and choices in one way or another. The student-debt crisis points to the need for a far more comprehensive effort to provide all students basic education about money. Every high school and college has its share of future teachers, doctors, mechanics, builders, engineers, even drop-outs. All will make critical decisions about money.

About the Author:
Eugene M. Natali, Jr. is a Senior Vice President at C.S. McKee, L.P. and co-author of "The Missing Semester".  The book is a financial guide for young adults and was awarded the 2013 EIFLE Book of The Year. To learn more about the book, or for an interview with the authors please visit www.themissingsemester.com contact Eugene Natali via email at 412-780-4851 or email.

(1) http://www.post-gazette.com/business/2013/12/27/2012-grads-have-highest-ever-student-debt/stories/201312270106

(2) http://money.cnn.com/2013/06/24/pf/emergency-savings/

Read more news from Eugene M. Natali, Jr.

SOURCE Eugene M. Natali, Jr.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, d...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
Vulnerability management is vital for large companies that need to secure containers across thousands of hosts, but many struggle to understand how exposed they are when they discover a new high security vulnerability. In his session at 21st Cloud Expo, John Morello, CTO of Twistlock, will address this pressing concern by introducing the concept of the “Vulnerability Risk Tree API,” which brings all the data together in a simple REST endpoint, allowing companies to easily grasp the severity of t...
The goal of Continuous Testing is to shift testing left to find defects earlier and release software faster. This can be achieved by integrating a set of open source functional and performance testing tools in the early stages of your software delivery lifecycle. There is one process that binds all application delivery stages together into one well-orchestrated machine: Continuous Testing. Continuous Testing is the conveyer belt between the Software Factory and production stages. Artifacts are m...
There is only one world-class Cloud event on earth, and that is Cloud Expo – which returns to Silicon Valley for the 21st Cloud Expo at the Santa Clara Convention Center, October 31 - November 2, 2017. Every Global 2000 enterprise in the world is now integrating cloud computing in some form into its IT development and operations. Midsize and small businesses are also migrating to the cloud in increasing numbers. Companies are each developing their unique mix of cloud technologies and service...
Cloud resources, although available in abundance, are inherently volatile. For transactional computing, like ERP and most enterprise software, this is a challenge as transactional integrity and data fidelity is paramount – making it a challenge to create cloud native applications while relying on RDBMS. In his session at 21st Cloud Expo, Claus Jepsen, Chief Architect and Head of Innovation Labs at Unit4, will explore that in order to create distributed and scalable solutions ensuring high availa...
Connecting to major cloud service providers is becoming central to doing business. But your cloud provider’s performance is only as good as your connectivity solution. Massive Networks will place you in the driver's seat by exposing how you can extend your LAN from any location to include any cloud platform through an advanced high-performance connection that is secure and dedicated to your business-critical data. In his session at 21st Cloud Expo, Paul Mako, CEO & CIO of Massive Networks, wil...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
In his session at @DevOpsSummit at 20th Cloud Expo, Kelly Looney, director of DevOps consulting for Skytap, showed how an incremental approach to introducing containers into complex, distributed applications results in modernization with less risk and more reward. He also shared the story of how Skytap used Docker to get out of the business of managing infrastructure, and into the business of delivering innovation and business value. Attendees learned how up-front planning allows for a clean sep...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...