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24 May, 2022

Students & Financial Literacy

A college education is one of the most important investments you will ever make. By managing how you pay for school and what you spend money on, you can worry less about debt and more about your career after graduation.

Receiving a scholarship — or multiple scholarships — can significantly reduce your tuition and other college expenses. Scholarships are available in various forms and dollar amounts. Many students receive partial scholarships from different sources.

Edited by Kim Borwick

Why Is Financial Literacy Important?

Whatever your career and life goals may be — from finding a cure for cancer to starting a family — you will need money to achieve them. Without a sufficient level of financial literacy, making, keeping and growing your money will be a challenge, and your goals will remain out of reach.

Attending a university, college or trade school is a wise choice because an investment in your professional skills will make you competitive in your field and give you the opportunity to earn more money and accomplish your dreams. But for many Americans, college is our first lesson in financial literacy, and it isn’t always a pleasant one.

Finding the right resources is the first step in becoming financially literate.

Students entering college have many choices, including which school to attend, which scholarships to apply for and how much student loan debt to take on.This student guide to financial literacy was created to help new students navigate the world of higher education.

VIEW ANNUITY'S GLOSSARY OF KEY FINANCIAL TERMS

Need-Based Scholarships

Mosea became a homeschooler when thousands of families and learners had made the switch to homeschooling amid the COVID-19 pandemic.

Optimi Home, which operates South Africa’s biggest homeschooling provider Impaq, has witnessed this trend first-hand, with record numbers of families switching to its offering in the last 18 months. Impaq has been operating for almost 20 years, and it currently has over 30,000 homeschooling learners.

Amid the rapidly growing demand for distance learning, Impaq has also embarked on taking schooling to the next level by launching a fully catered-for online school for English- and Afrikaans-speaking learners. This move brings Impaq’s offering full circle in terms of being a distance learning provider in South Africa.

Admissions to the Impaq Online School for 2022 have officially opened, and the school is set to cater toGrade 7 – 11 learners, while plans are in place to expand to other grades from2023. The school will follow the CAPS curriculum.

“The COVID-19 pandemic has opened the door for online learning and distance learning for school-going learners in South Africa,” says Louise Schoonwinkel, MD of Optimi Home.

“Homeschooling has been an alternative for South African families for many years. But we are now seeing that families who previously would not have considered homeschooling as an option have been experimenting and even making the full-time switch to it after finding that it works for them,” says Schoonwinkel.

“Our new online school will be like a full-time school, but from home. We’ll have highly qualified teachers and structured timetables that will help guide a new generation of distance learners every step of the way. As a result, quality education is set to become ever more accessible in this exciting digital age,” concludes Schoonwinkel.

7 cited articles

Annuity.org writers adhere to strict sourcing guidelines and use only credible sources of information, including authoritative financial publications, academic organizations, peer-reviewed journals, highly regarded nonprofit organizations, government reports, court records and interviews with qualified experts. You can read more about our commitment to accuracy, fairness and transparency in our editorial guidelines.

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