Should schools teach “How to manage your credit” instead of Algebra?

Having a good credit score is crucial. Some college freshman and sophomores shared that they know little to nothing about the concept or how to go about building their own credit.  

A credit score is, “A numerical expression based on a level analysis of a person’s credit files, to represent the creditworthiness of an individual. A credit score is primarily based on a credit report, information typically sourced from credit bureaus.”

A large majority of students at CSUSB come from a low socio-economic background, their credit score, if good, is their only backbone.

There are hundreds and thousands of college students who have bad credit or have been misinformed on the topic. We conducted a couple of interviews with college freshman and sophomores to formulate some accurate feedback.

[su_quote cite=”College Sophomore and Chemistry major Jessie Reyes”]“I don’t make enough money to start building my credit just yet. I barely make it by with the little money I earn. I am a full-time student, so I do not have time for a full-time job. Since I am still in school and will be for the next couple of years, I do not worry about my credit score, but I know I should.”[/su_quote]

A bad credit score can affect your buying a home, car, job opportunities, etc. This can stop a student from jump-starting their new lives after graduation and thus, result in them not using their degrees. A student shared that credit score issues have led to more stress, family problems, family problems, transportation problems, and homelessness.

Thus, affecting their education. The lack of knowledge is the result of many students being homeless and/or being food insecurity. More importantly, taking out a loan in the time of an emergency can also change the life of a student.

Prior coyote, Jenny Veloz shares her story with us:

“I actually had to take a leave of absence because of mine and my families’ credit scores. My family has been going through a crisis. We have been jumping around from home to home, unable to have our own. Our credit score suffered due to our ongoing financial need. There was no way out, it felt like. It was like a cycle; we had a bad credit score because we didn’t have money and we could not have a home or cars to our names because of the credit scores. It felt as if we had been digging ourselves deeper and deeper in the hole over the years. It is because of this that I had to leave school and help my family out.”  

Although math is very important, it doesn’t apply to everyone’s career of choice. Current CSUSB student, Alicia Martinez shared her experience with math and how she has struggled with it since she could remember.  

“ I feel that math requirements should only apply to students who are going into fields such as the medical field, accountants, and scientists.  Also, most of us will never step foot into a situation where we will need to use math!?”

Also, current coyote, Vanessa Salcedo shares her stance on why knowledge on credit should be more valued than algebra. She shares:

“Most of us will never use algebra ever again, so my answer is yes! But your credit score? It can haunt you or help you. It can get you a new car or leave you in the streets. Yeah sure math is important of course, but those of us who are in the working class and middle class get the toughest blow. Without good credit, there is really nothing you can do.”