This research project examines the costly short-term and long-term choices that college students make due to psychological and emotional theories or because of a lack of assistance from universities. College students in the 21st century have a tendency to spend money on things that deepen the financial hole of college debt. The absence of “thrift,” the practice of spending money wisely and frugally, in the minds of college students may be contributing to the matter. By spending thousands of dollars on entertainment annually and by failing to save money when the opportunity presents itself, college students exhibit a necessity for financial literacy courses in universities in order to become thriftier spenders. The project also considers the costs of the directionless student and his/her lack of interest in education, despite its high price tag. By skipping classes, students may diminish their intellectual potential as well as their bank accounts. However, all universities, including Harvard University, have an opportunity to solve the matter by engaging their students in better classes. The research in this essay reveals striking truths about the financial shortcomings of college students and the dependence of college students on their universities to assist them.
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